Aemetis, Inc. (AMTX)

Over the past six months, Aemetis (AMTX) stock has experienced significant movements, increasing by 129.41% from May 8, 2025, to May 7, 2026. The stock surged by 128% over 30 days leading up to late April 2026, and approximately 100% over the past quarter (January-March 2026), driven by strong dairy RNG production growth and positive Q4 2025 earnings highlights. Key events include the Q4 2025 earnings report with a 61% year-over-year increase in dairy RNG production, and the Q1 2026 earnings report with revenues of $54.6 million, a 27% increase over Q1 2025, although it missed Wall Street expectations. Regulatory approvals of new Low Carbon Fuel Standard (LCFS) pathways and progress on the Mechanical Vapor Recompression (MVR) project have been positive catalysts. The India subsidiary began biodiesel deliveries under a $24 million allocation, with plans for an IPO underway.

Aemetis's products and services experience some demand seasonality. The Q1 2026 earnings call noted typical winter seasonality impacting Adjusted EBITDA. Market prices of ethanol, alcohol, wet distillers grains (WDG), and distillers corn oil (DCO) vary throughout the year.

Aemetis, Inc., founded in 2006 and headquartered in Cupertino, California, operates in the Basic Materials sector, focusing on Specialty Chemicals and Renewable Fuels. The company acquires, develops, and commercializes low and negative carbon intensity products to replace petroleum-based products and reduce greenhouse gas emissions. Aemetis has three main segments: California Ethanol, which includes a 65 million gallon per year ethanol production facility; California Dairy Renewable Natural Gas (RNG), involving a network of biogas digesters; and India Biodiesel, with an 80 million gallon per year facility producing biodiesel and refined glycerin. Additionally, Aemetis is developing sustainable aviation fuel (SAF) and renewable diesel biorefineries and is involved in carbon sequestration projects.

Aemetis, Inc. has operations in North America and India. Its North American operations are primarily in California, including an ethanol plant near Modesto and a dairy biogas digester network. In India, the company operates a biodiesel and refined glycerin production facility in Kakinada.

Aemetis's brand reputation is generally positive within the renewable energy sector, with analysts giving the stock a consensus "buy" rating. The company's focus on low and negative carbon intensity products aligns with the demand for sustainable energy solutions. Positive developments like increased dairy RNG production and ethanol plant upgrades have contributed to positive market sentiment. The CEO, Eric McAfee, received the Holmberg Award for Lifetime Achievement in the Bioeconomy in March 2026. Recent earnings misses could be perceived negatively by some investors.

Aemetis, Inc.'s ownership includes institutional, retail, and individual investors. As of May 7, 2026, there are 77 institutional owners holding 11,028,020 shares, representing approximately 16.7% of outstanding shares as of December 2025. Major institutional shareholders include Vanguard Group Inc, Grantham, Mayo, Van Otterloo & Co. LLC, and BlackRock, Inc. Eric A. McAfee, the Founder, Chairman, and CEO, is the largest individual shareholder, owning 92.22% of the company's shares as of early 2025.