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

Gevo, Inc. (NASDAQ:GEVO)’s share price was down 3.1% during trading on Wednesday . The company traded as low as $1.37 and last traded at $1.39. Approximately 1,031,635 shares changed 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GEVO shares. UBS Group lifted their price target on Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Gevo in a report on Wednesday, November 13th.

Gevo Price Performance

The company’s 50-day simple moving average is $1.93 and its 200-day simple moving average is $1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.25 and a quick ratio of 8.05. The stock has a market capitalization of $332.78 million, a price-to-earnings ratio of -4.09 and a beta of 2.94.

Insiders Place Their Bets

In other Gevo news, insider Paul D. Bloom sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $3.06, for a total transaction of $48,960.00. Following the completion of the sale, the insider now directly owns 947,882 shares in the company, valued at $2,900,518.92. This trade represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew Shafer sold 26,911 shares of Gevo stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $2.37, for a total transaction of $63,779.07. Following the completion of the sale, the insider now owns 332,430 shares of the company’s stock, valued at approximately $787,859.10. The trade was a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Gevo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position 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. Millennium Management LLC acquired a new position in Gevo during the second quarter valued at approximately $2,888,000. Point72 Asset Management L.P. raised its position in Gevo by 54.2% during 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 purchasing an additional 812,870 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Gevo during the second quarter valued at approximately $295,000. Finally, Price T Rowe Associates Inc. MD raised its position in Gevo by 128.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 341,936 shares of the energy company’s stock valued at $263,000 after purchasing 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.