© Reuters. Pacific Ethanol slips day after soaring 24% as CEO, other insiders buy shares
- Pacific ( -4.8%) is lower today after skyrocketing nearly 24% in yesterday's trade following disclosures that CEO Neil Koehler and other top executives bought shares last Friday.
- Koehler bought 30K shares for $3.20 each, the company's VP of commodities and corporate development bought 6.5K shares at the same price, and the COO bought 3K shares for $3.25 each.
- PEIX shares sank 16% last week after reporting a Q4 loss and the introduction of a bill in Congress that would reduce mandates to use ethanol; the insider purchases were made after the stock had dropped to $3.10 on Thursday, its lowest closing price in more than two years.
- Now read: Pacific Ethanol , Inc. 2017 Q4 - Results - Earnings Call Slides