New York, NY – May 29th, 2013 – The ethanol industry struggled in 2012 as a drought caused corn prices to skyrocket resulting in negative profit margins for producers. According to data from the Renewable Fuels Association, the decline in ethanol production in 2012 was its first in 16 years. The industry has experienced a bit of resurgence so far in 2013 as falling corn prices and a proposed increase to the renewable fuels mandate have provided a boost to ethanol prices.
Archer Daniels Midland Company (NYSE:ADM - News) closed at $34.16 a share last Thursday, up approximately 25 percent year-to-date. The stock appears to be facing some resistance at $37.48 with strong support at $34.15. The company reported bio-products’ results increased $39 million to $77 million in the first quarter of 2013, due to improving ethanol margins throughout the quarter.
More information on Archer Daniels Midland and access to the free equity report can be found at: www.WallStreetFundamentals.com/ADM
BioFuel Energy Corp. (NASDAQ:BIOF - News) closed at $4.69 a share last Thursday, up approximately 27.5 percent year-to-date. The stock appears to be facing resistance at $4.99 with support at $4.58. The company reported a net loss of $5.3 million on revenues of $89.0 million for the first quarter of 2013, compared to a net loss of $11.1 million on revenues of $139.4 million a year prior.
More information on BioFuel Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/BIOF
Green Plains Renewable Energy Inc. (NASDAQ:GPRE - News) shares gained 3.25 percent to close at $15.90 a share last Thursday, up over 100 percent year-to-date. The stock appears to have some support at the $15.46 and $14.59 levels. The company reported a net income of $2.6 million, or $0.08 per diluted share, compared to a net loss of ($12.7) million, or ($0.39) per diluted share, in the year ago quarter.
More information on Green Plains and access to the free equity report can be found at: www.WallStreetFundamentals.com/GPRE
Pacific Ethanol Inc. (NASDAQ:PEIX - News) shares have gained approximately 20 percent in the past month. The stock appears to be facing significant resistance at $4.99 with strong support at $4.74. The company reported net sales were $225.5 million for the first quarter of 2013, up from net sales of 197.7 million in the year ago quarter. The average price per gallon of ethanol was $2.60, compared to $2.34 a year ago.
More information on Pacific Ethanol and access to the free equity report can be found at: www.WallStreetFundamentals.com/PEIX
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