Why Alto Ingredients Shares Are Rising After Hours

Alto Ingredients Inc ALTO is trading higher in Thursday's after-hours session after the company reported better-than-expected top-line results. 

Alto Ingredients said fourth-quarter revenue increased 128% year-over-year to $385.5 million, which beat the $323.3 million estimate. 

Cost of goods sold totaled $343.4 million, up from $155.2 million in the fourth quarter of 2020. Gross profit reached $42.1 million, up from $13.6 million year-over-year.

Alto Ingredients is a producer of specialty alcohols and essential ingredients.

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ALTO 52-Week Range: $4.39 - $7.66

Alto shares were up 14.73% at $6.70 at time of publication.