The share prices of Pacific Ethanol Inc. (NASDAQ:PEIX) surged by 17.69 percent to close at $4.99 for the trading day. The shares traded in the range of $4.21 to $5.45 per share during the last trading session. Pacific Ethanol Inc. (NASDAQ:PEIX) is involved in the production and marketing of low carbon renewable fuels in the Western United States.

Reverse Stock Split

Pacific Ethanol Inc. (NASDAQ:PEIX) had recently announced a reverse stock split in the ratio of one for fifteen of its issued and outstanding common stock. In line with this announcement, the company had filed its proceedings as an amendment in the Certificate of Incorporation of the company. The reverse stock split thereby resulted in combining every fifteen shares of the company and reclassifying it into one share of Pacific Ethanol Inc. (NASDAQ:PEIX). As a result of this reverse stock split, the total number of shares outstanding for the company reduced from 160.9 million shares to approximately 10.9 million shares.

The new shares which were reclassified under the reverse stock split of Pacific Ethanol Inc. (NASDAQ:PEIX) are available for trading from May 14, 2013. The company operates ethanol production facilities at California, Idaho, Oregon and the Pacific Ethanol plants. Further, Pacific Ethanol Inc. (NASDAQ:PEIX) also ethanol produced by three other producers in the Western United States. The total number of shares outstanding for the company is 10.65 million and Pacific Ethanol Inc. (NASDAQ:PEIX) holds an institutional ownership of 17 percent of the total capital of the firm.