Gevo (NASDAQ:GEVO) Shares Gap Up – Here’s What Happened

Gevo, Inc. (NASDAQ:GEVO) gapped up before the market opened on Friday . The stock had previously closed at $2.32, but opened at $2.49. Gevo shares last traded at $2.64, with a volume of 4,740,927 shares changing hands.

Analysts Set New Price Targets

A number of 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 report on Tuesday, October 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Gevo in a report on Wednesday, November 13th.

Gevo Trading Up 22.8 %

The company has a market capitalization of $682.32 million, a P/E ratio of -8.38 and a beta of 2.83. The stock has a 50 day moving average of $1.77 and a 200-day moving average of $1.33. The company has a current ratio of 8.25, a quick ratio of 8.05 and a debt-to-equity ratio of 0.13.

Insiders Place Their Bets

In other news, insider Andrew Shafer sold 26,911 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $2.37, for a total value of $63,779.07. Following the transaction, the insider now directly owns 332,430 shares in the company, valued at $787,859.10. The trade was a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the insider now directly 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 position. 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in Gevo during the second quarter valued at $2,888,000. Point72 Asset Management L.P. boosted its holdings in shares of Gevo by 54.2% during the 3rd 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gevo during the second quarter valued at about $295,000. Cubist Systematic Strategies LLC bought a new stake in shares of Gevo in the second quarter worth about $112,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Gevo in the second quarter worth about $64,000. Institutional investors own 35.17% of the company’s stock.

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.