Small Cap Movers

Aventine Renewable dips on analyst downgrade to ‘underweight’

Dianna Heitz | Jul 28, 2008 10:32am EDT | Comment
Rating: Unrated
Aventine Renewable Energy Holdings Inc. (NYSE:AVR) is down 9% today after Lehman Brothers downgraded the alternative fuels company to “underweight” from “equal-weight.” The analyst said that falling corn prices have not improved ethanol production margins. The Pekin, Ill.-based company produces and markets ethanol. Record-high corn prices have cut into its margins and the stock is down 53% since January.

In today’s trading, shares are at $6.02 at 10:30 a.m. ET, down $0.61 from Friday’s close. The stock has ranged from $3.66 to $17.23 during the past year.

For detailed price information and recent news stories about Aventine Renewable Energy Holdings Inc., click AVR.
Dianna Heitz

About the Author
Reporter Dianna Heitz is based in SmallCapInvestor.com's Washington, DC bureau.