Rentech Inc. (NASDAQ:RTK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Rentech, Inc. has developed and own a proprietary and patented gas-to-liquids process that converts carbon bearing gases, liquids and solids into valuable liquid hydrocarbon products. The technology works with various feedstocks, including natural gas and industrial off-gas, heavy crude oil and refinery byproducts, and coal and petroleum coke, among other carbon-bearing materials. “
Shares of Rentech (NASDAQ:RTK) traded up 5.99% during mid-day trading on Tuesday, reaching $1.77. The company’s stock had a trading volume of 26,292 shares. The stock has a market capitalization of $41.05 million, a P/E ratio of 0.17 and a beta of 2.01. The company has a 50 day moving average price of $2.38 and a 200 day moving average price of $2.75. Rentech has a 12 month low of $1.55 and a 12 month high of $4.15.
Rentech (NASDAQ:RTK) last posted its earnings results on Thursday, November 10th. The company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.23. The business had revenue of $38.60 million for the quarter, compared to analyst estimates of $45.85 million. Rentech had a return on equity of 53.18% and a net margin of 143.41%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.38) earnings per share. On average, equities research analysts anticipate that Rentech will post $12.24 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Northern Trust Corp increased its stake in shares of Rentech by 26.1% in the third quarter. Northern Trust Corp now owns 46,249 shares of the company’s stock valued at $135,000 after buying an additional 9,570 shares in the last quarter. RBF Capital LLC acquired a new stake in shares of Rentech during the third quarter valued at about $151,000. Paloma Partners Management Co acquired a new stake in shares of Rentech during the second quarter valued at about $206,000. Smith Asset Management Group LP acquired a new stake in shares of Rentech during the third quarter valued at about $238,000. Finally, Oxford Asset Management increased its stake in shares of Rentech by 529.3% in the second quarter. Oxford Asset Management now owns 102,786 shares of the company’s stock valued at $247,000 after buying an additional 86,452 shares in the last quarter. 46.48% of the stock is currently owned by institutional investors.
Rentech, Inc is a provider of wood fiber processing services, wood chips and wood pellets. The Company’s processing business includes Fulghum Fibres, Inc (Fulghum), which operates approximately 30 wood chipping mills in the United States and South America. The Company provides wood yard operations services.