New York, May 23, 2026, 17:04 EDT
Aemetis rallied 19.1% on Friday, finishing the session at $2.68, with volume at about 3.23 million shares. Traders moved into the thinly traded renewable fuels stock before the long U.S. holiday weekend. Aemetis was up around 17% for the week, up from last Friday’s $2.29 close.
Timing is key here. Nasdaq is closed for the weekend and stays shut on Monday for Memorial Day. The next regular session is Tuesday, which will show if the move sticks. According to Nasdaq’s 2026 calendar, May 25 is marked as a market holiday for U.S. equities and options.
Aemetis shares jumped after two updates. The company said on May 21 that California’s Capital Programs & Climate Financing Authority approved an initial resolution related to the possible sale of up to $1.1 billion in tax-exempt bonds for Aemetis projects. Tax-exempt bonds can mean lower borrowing expenses since interest may get favorable tax treatment. An analyst also raised their target price Friday.
Aemetis said the initial resolution isn’t cash in hand. The company said the step means project costs can qualify for future bond funds. But final bond financing still hinges on paperwork and signoff.
Aemetis chairman and CEO Eric McAfee said the bond financing “potential to enhance our financial position”, as the company pushes ahead with projects it says will help its balance sheet and get it closer to profitability. The company says it’s planning more than 40 new dairy digesters, new biogas pipeline hookups, and carbon capture as well as renewable diesel and sustainable aviation fuel work in California. Aemetis
Ascendiant Capital bumped its price target on Aemetis up to $22 from $21 and left its Buy rating unchanged, market data sites said, citing a move on May 22. Quiver Quant flagged analyst Edward Woo of Ascendiant Capital with the $22 target.
Aemetis moved ahead of the broader market and nearby biofuel stocks Friday. The Nasdaq Composite edged up 0.19% to 26,343.97, and the Russell 2000 advanced 0.89%. Gevo finished up 3.5%. Alto Ingredients picked up 2.9%. Green Plains ended 2.7% higher.
The company, based in Cupertino, California, pitches itself as a renewable natural gas and biofuels firm. It operates a dairy-biogas network in California, a 65 million gallon-a-year ethanol plant outside Modesto, and an 80 million gallon-a-year biodiesel and refined glycerin site on India’s east coast.
Aemetis posted first-quarter revenue of $54.6 million, a 27% rise from a year ago. Gross profit came in at $2.8 million after recording a gross loss last year, and operating loss narrowed to $6.3 million. Net loss was $21.7 million. The results show some progress, but losses continue.
Aemetis CFO Todd Waltz said the company saw “strong execution” this quarter in California ethanol, dairy renewable natural gas, and India biodiesel. Low Carbon Fuel Standard credits are still a key focus. The company said seven dairy renewable natural gas pathways averaged carbon-intensity scores of negative 380. SEC
McAfee told investors this month that the first quarter was a “financial inflection point.” The company’s CEO also said the mechanical vapor recompression upgrade at the Keyes ethanol plant is expected to be finished later this year, with commissioning projected to bring in about $32 million in yearly cash flow by reusing energy and cutting fossil natural gas use.
Aemetis is still squeezed for cash. As of March 31, it had $4.8 million on hand and $396.2 million in current liabilities, including $293.8 million in near-term debt. The move could reverse fast if tax-free financing falls through, credit prices slide, federal clean-fuel policies change, or the India plan stalls.
