Aemetis stock championed by SeeThruEquity, bouncing back from Seeking Alpha smackdown
In California, Aemetis has received a positive review from SeeThruEquity, with the equity research firm asserting that the company is “an attractive play in the biofuels space.”
The update note explained that “Favorable ethanol operating environment in the U.S. and significant ramp up in production and revenues at the India plant provide significant potential for AMTX stock in the medium term. We are also optimistic about AMTX’s immediate prospects and project a 43% increase in revenues to $255mn in 2014E over 2013, which will be driven by robust ethanol business environment in the U.S. and the ramp of production at the India plant.”
The positive review contradicts a scathing article published by Seeking Alpha on the company just last month, which we debunked here.
The claim presented was that Aemetis “has already begun defaulting on its short-term debts…Creditors have already assumed as collateral ALL of Aemetis’ assets, and are now sweeping cash from Aemetis every night…Creditors are attempting to seize assets…A massive near-term equity offering is the only option for Aemetis…” — allegations refuted, ultimately, point by point by Aemetis.
As a noted investor remarked at the time, “it was a rough day [for Aemetis] when that article appeared, but in the end, they beat down a short, which is special.”
Category: Fuels
