Aventine Renewable Energy falls to 52-week low
Shares of Aventine Renewable Energy Holdings, Inc. (NYSE:AVR) received a bearish shock and fell to a new 52-week low on news before the opening that an analyst has reduced the stock’s price target to $5 per share from $8 per share. The Pekin, Ill.-based ethanol maker will be affected by an increase in the price of corn, according to a research note released by financial services firm UBS.
At 2:46 p.m. ET, the stock had declined $0.38, or 8%, to $4.26. The previous 52-week low of $4.39 per share was established on April 10. For detailed price information and recent news stories about Aventine Renewable Energy, click AVR.
