Verde Clean Fuels (NASDAQ:VGAS) Trading Down 6.3%

Shares of Verde Clean Fuels, Inc. (NASDAQ:VGAS) dropped 6.3% on Wednesday . The company traded as low as $4.26 and last traded at $4.32. Approximately 47,857 shares changed hands during mid-day trading, an increase of 105% from the average daily volume of 23,318 shares. The stock had previously closed at $4.61.

Verde Clean Fuels Stock Performance

The stock has a market capitalization of $128.68 million, a PE ratio of -8.22 and a beta of -0.64. The firm’s 50 day moving average is $4.48 and its two-hundred day moving average is $4.08.

Verde Clean Fuels (NASDAQ:VGAS) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.13) earnings per share for the quarter.

Institutional Investors Weigh In On Verde Clean Fuels

A hedge fund recently bought a new stake in Verde Clean Fuels stock. Sanders Morris Harris LLC bought a new position in shares of Verde Clean Fuels, Inc. (NASDAQ:VGAS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 102,200 shares of the company’s stock, valued at approximately $409,000. Sanders Morris Harris LLC owned 0.32% of Verde Clean Fuels as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 15.61% of the company’s stock.

Verde Clean Fuels Company Profile

Verde Clean Fuels, Inc, operates as a clean energy technology company in the United States. It specializes in the conversion of synthesis gas, or syngas, derived from feedstocks, such as biomass, natural gas, and other feedstocks into liquid hydrocarbons that can be used as gasoline through proprietary liquid fuels technology.