Gevo (NASDAQ:GEVO) Shares Down 0.7% – Here’s Why

Gevo, Inc. (NASDAQ:GEVO) was down 0.7% on Friday . The company traded as low as $1.44 and last traded at $1.48. Approximately 1,244,151 shares changed hands during trading, a decline of 79% from the average daily volume of 5,933,338 shares. The stock had previously closed at $1.49.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEVO. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Gevo in a research note on Wednesday. UBS Group lifted their price objective on Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd.

Gevo Price Performance

The firm has a market cap of $344.75 million, a price-to-earnings ratio of -4.35 and a beta of 2.94. The company has a current ratio of 8.25, a quick ratio of 8.05 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $1.86 and its 200-day moving average price is $1.08.

Insider Buying and Selling at Gevo

In other Gevo news, insider Paul D. Bloom sold 16,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $3.06, for a total value of $48,960.00. Following the completion of the sale, the insider now owns 947,882 shares of the company’s stock, valued at approximately $2,900,518.92. This trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Shafer sold 26,911 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $2.37, for a total transaction of $63,779.07. Following the transaction, the insider now directly owns 332,430 shares in the company, valued at approximately $787,859.10. This trade represents a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 377,474 shares of company stock worth $367,007 over the last quarter. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEVO. Millennium Management LLC purchased a new position in shares of Gevo during the 2nd quarter worth $2,888,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gevo in the second quarter valued at approximately $295,000. Vanguard Group Inc. increased its holdings in shares of Gevo by 3.1% in the first quarter. Vanguard Group Inc. now owns 13,805,071 shares of the energy company’s stock valued at $10,612,000 after buying an additional 409,693 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Gevo in the second quarter worth approximately $112,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Gevo by 128.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 341,936 shares of the energy company’s stock worth $263,000 after buying an additional 192,457 shares in the last quarter. 35.17% of the stock is currently owned by institutional investors and hedge funds.

Gevo Company Profile

Gevo, Inc operates as a carbon abatement company. It operates through three segments: Gevo, Agri-Energy, and Renewable Natural Gas. The company focuses on transforming renewable energy into energy-dense liquid hydrocarbons that can be used as renewable fuels. It offers renewable gasoline and diesel, isobutanol, sustainable aviation fuel, renewable natural gas, isobutylene, ethanol, and animal feed and protein.