Verde Clean Fuels (NASDAQ:VGAS) Shares Down 2.9% – Time to Sell?

Verde Clean Fuels, Inc. (NASDAQ:VGAS)’s share price dropped 2.9% during trading on Monday . The stock traded as low as $3.96 and last traded at $4.01. Approximately 7,522 shares were traded during trading, a decline of 40% from the average daily volume of 12,508 shares. The stock had previously closed at $4.13.

Verde Clean Fuels Stock Performance

The company has a market cap of $128.52 million, a P/E ratio of -8.02 and a beta of -0.62. The firm’s 50-day simple moving average is $3.91 and its 200 day simple moving average is $3.97.

Hedge Funds Weigh In On Verde Clean Fuels

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Verde Clean Fuels by 8.6% during the third quarter. Geode Capital Management LLC now owns 77,807 shares of the company’s stock worth $310,000 after buying an additional 6,191 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Verde Clean Fuels by 107.6% during the 4th quarter. JPMorgan Chase & Co. now owns 12,492 shares of the company’s stock worth $51,000 after acquiring an additional 6,476 shares during the last quarter. Stoneridge Investment Partners LLC bought a new position in Verde Clean Fuels during the 4th quarter worth approximately $62,000. Finally, Northern Trust Corp increased its stake in Verde Clean Fuels by 37.5% in the fourth quarter. Northern Trust Corp now owns 69,522 shares of the company’s stock valued at $283,000 after purchasing an additional 18,975 shares in the last quarter. Institutional investors and hedge funds own 15.61% of the company’s stock.

About Verde Clean Fuels

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.