Millennium Management LLC Buys New Stake in Gevo, Inc. (NASDAQ:GEVO)

Millennium Management LLC bought a new stake in shares of Gevo, Inc. (NASDAQ:GEVO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,183,693 shares of the energy company’s stock, valued at approximately $2,888,000.

Several other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gevo in the 2nd quarter worth $295,000. Vanguard Group Inc. grew its stake in shares of Gevo by 3.1% in the 1st 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Gevo in the 1st quarter worth $89,000. Bayesian Capital Management LP purchased a new position in shares of Gevo in the 1st quarter worth $27,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Gevo by 128.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 341,936 shares of the energy company’s stock worth $263,000 after acquiring an additional 192,457 shares during the last quarter. 35.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gevo

In related news, CFO L Lynn Smull sold 69,738 shares of Gevo stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $0.76, for a total transaction of $53,000.88. Following the completion of the sale, the chief financial officer now owns 1,169,602 shares in the company, valued at $888,897.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Christopher Michael Ryan sold 84,014 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $0.76, for a total value of $63,850.64. Following the completion of the sale, the chief operating officer now owns 1,573,934 shares in the company, valued at approximately $1,196,189.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO L Lynn Smull sold 69,738 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $0.76, for a total transaction of $53,000.88. Following the completion of the sale, the chief financial officer now owns 1,169,602 shares of the company’s stock, valued at approximately $888,897.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 759,600 shares of company stock worth $486,431 in the last 90 days. 4.00% of the stock is owned by corporate insiders.

Gevo Price Performance

Gevo stock opened at $2.00 on Tuesday. The firm has a 50-day moving average price of $1.11 and a 200-day moving average price of $0.81. The firm has a market capitalization of $472.47 million, a PE ratio of -6.90 and a beta of 2.98. The company has a current ratio of 10.22, a quick ratio of 10.09 and a debt-to-equity ratio of 0.13. Gevo, Inc. has a 12-month low of $0.48 and a 12-month high of $2.11.

Gevo (NASDAQ:GEVO) last released its earnings results on Thursday, August 8th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). Gevo had a negative net margin of 407.97% and a negative return on equity of 13.50%. The firm had revenue of $5.26 million during the quarter, compared to analyst estimates of $3.93 million. During the same quarter last year, the business earned ($0.06) EPS. As a group, equities research analysts forecast that Gevo, Inc. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Gevo in a report on Friday, September 13th.

Gevo 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.