What's Going On With Alto Ingredients Shares?

Alto Ingredients Inc ALTO shares are trading higher by 4.26% to $4.16 after the company announced a $50 million share buyback program.

What Else?

Alto Ingredients says the share repurchase program has no expiration date, does not require the repurchase of any particular amount of shares of common stock and may be implemented, modified, suspended or discontinued in whole or in part at any time without further notice.

The company says amounts in excess of the initial $10 million purchase will require additional board and preferred stockholder authorization.

Alto Ingredients anticipates that the repurchase of shares of its common stock under this program could be funded with a combination of existing cash, cash flow, borrowings under existing credit facilities and proceeds from potential incremental borrowing arrangements.

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According to data from Benzinga Pro, Alto Ingredients has a 52-week high of $7.37 and a 52-week low of $3.51.