Small-Cap Winners and Losers: Pacific Ethanol

Pacific Ethanol soars on a surge in quarterly revenue and better-than-expected adjusted earnings.
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Updated from 1:34 p.m. EDT with new stock prices

Small-cap stocks opened the week with a jump to the upside, joining the broader market's rally Monday. The Russell 2000 was down 0.4% at 737.89 and the S&P SmallCap 600 fell 0.3% to 391.01.

Leading the charge upward was

Pacific Ethanol

(PEIX) - Get Report

, which produces and sells ethanol. Shares of the Sacramento, Calif. company jumped 60.6% to $5.14. For the first quarter, Pacific Ethanol reported that revenue rose 63% year over year to $161.5 million. It also posted a loss of $36.3 million, or 90 cents a share, vs. a profit of 5 cents a share a year ago. The most recent results included a 96-cent one-time charge. Analysts polled by Thomson Reuters, who typically do not include one-time charges in their estimates, were expecting a 9-cent loss.

Brookings, S.D.-based

VeraSun Energy

(VSE)

, another ethanol company, appeared to piggyback off Pacific Ethanol, rising 18.1% to $7.31.

Meanwhile

Ocean Power Technologies

(OPTT) - Get Report

, a Pennington, N.J., maker of systems that harness energy from ocean waves, announced a joint development agreement with Griffin Wave Power to create a wave power station off the coast of Western Australia. Shares added 16.3% to $11.56.

Also rising, Oklahoma City, Okla.-based energy company

Quest Resource

(QRCP)

announced it terminated a merger agreement with

Pinnacle Gas Resources

(PINN)

. Quest shares soared 21.3% to $10.81 on the news, while Pinnacle lost 29.7% to $2.82.

Finally,

Chemed

(CHE) - Get Report

, a Cincinnati hospice-care provider, suffered a downgrade by Deutsche Securities to hold from buy, and shares slumped 3.2% to $34.00.