By midmorning, shares had exploded 33.4% to $12.05.
In the three months to December, the ethanol fuel producer posted net income of 54 cents a share, well over a net loss of 1 cent a share according to analysts polled by Thomson Reuters.
A full-year net loss of 17 cents a share was a narrower loss than consensus of 85 cents a share.
The company recorded revenue of $188.38 million over the quarter and $881.52 million for the full year.
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TheStreet Ratings team rates PACIFIC ETHANOL INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PACIFIC ETHANOL INC (PEIX) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and poor profit margins."
- You can view the full analysis from the report here: PEIX Ratings Report