Gevo (NASDAQ:GEVO) Shares Down 3.1% – Here’s What Happened

Gevo, Inc. (NASDAQ:GEVO) was down 3.1% during mid-day trading on Wednesday . The company traded as low as $1.37 and last traded at $1.39. Approximately 1,031,635 shares traded hands during trading, a decline of 83% from the average daily volume of 5,899,437 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GEVO. UBS Group upped their target price on shares of Gevo from $0.85 to $3.25 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Gevo in a research report on Wednesday, November 13th.

Gevo Price Performance

The company has a 50-day moving average of $1.90 and a 200-day moving average of $1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 8.05 and a current ratio of 8.25. The firm has a market capitalization of $323.20 million, a price-to-earnings ratio of -4.07 and a beta of 2.94.

Insider Buying and Selling at Gevo

In other news, COO Christopher Michael Ryan sold 84,014 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $0.76, for a total value of $63,850.64. Following the sale, the chief operating officer now directly owns 1,573,934 shares in the company, valued at $1,196,189.84. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Bloom sold 16,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $3.06, for a total value of $48,960.00. Following the transaction, the insider now directly owns 947,882 shares of the company’s stock, valued at $2,900,518.92. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 377,474 shares of company stock valued at $367,007. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in shares of Gevo during the 2nd quarter worth about $2,888,000. Point72 Asset Management L.P. grew its stake in shares of Gevo by 54.2% in the third quarter. Point72 Asset Management L.P. now owns 2,312,870 shares of the energy company’s stock valued at $3,770,000 after buying an additional 812,870 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Gevo during the second quarter worth $295,000. Vanguard Group Inc. increased its holdings in Gevo by 3.1% during the first quarter. Vanguard Group Inc. now owns 13,805,071 shares of the energy company’s stock worth $10,612,000 after buying an additional 409,693 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Gevo during the second quarter worth $112,000. Institutional investors own 35.17% of the company’s stock.

About Gevo

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.