Aventine announces FY 2007 revenue growth but a 4Q07 income drop, causing share prices (given the market's volatility) to crash.
Energy shares crash as a result of the credit crunch and ensuing havoc in the financial markets; renewables are the hardest hit.
HOLDINGS INC >AVR
SOURCE: Form 4
ISSUER: AVENTINE RENEWABLE ENERGY HOLDINGS INC SYMBOL: AVR
FILER: SABHERWAL AJAY TITLE: Chief Financial Officer
DATE TRANSACTION SHARES PRICE VALUE 8/13/07 Exercise 54,168 $4.35 $235,631 8/13/07 Sale 30,252 $15.57 $471,114
OWNERSHIP: 39,309 (Direct)
Insider Data Source: The Washington Service
14:19 081407
Aventine Renewable Energy Holdings, Inc. Announces Results of Exchange Offer for Its Senior Unsecured Fixed Rate Notes Due 2017
Price is upgraded and opens ~$2/share higher than the previous few days.
Following the 2Q Results Analysts downgrade the stock price. The company beat projections; however, reported less revenue for the same period one year ago.
INC >AVR
FILER: MILLER RONALD H TITLE: Chief Executive Officer
DATE TRANSACTION SHARES PRICE VALUE 8/3/07 Exercise 10,000 $0.23 $2,300 8/3/07 Sale 10,000 $14.94 $149,360 (10b5-1 Plan Indicated)*
OWNERSHIP: 35,129 (Direct)
15:18 080607