Gevo (NASDAQ:GEVO) Shares Down 0.7% – Here’s What Happened

Gevo, Inc. (NASDAQ:GEVO) shares dropped 0.7% on Friday . The stock traded as low as $1.44 and last traded at $1.48. Approximately 1,244,151 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 5,933,338 shares. The stock had previously closed at $1.49.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GEVO. UBS Group boosted their target price on shares of Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Gevo in a report on Wednesday.

Gevo Trading Down 4.0 %

The business’s 50 day simple moving average is $1.88 and its 200-day simple moving average is $1.08. The stock has a market capitalization of $342.36 million, a P/E ratio of -4.21 and a beta of 2.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.25 and a quick ratio of 8.05.

Insider Buying and Selling

In related news, insider Paul D. Bloom sold 16,000 shares of the business’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 transaction, the insider now owns 947,882 shares in the company, valued at approximately $2,900,518.92. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Shafer sold 26,911 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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 in the company, valued at approximately $787,859.10. This trade represents a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 377,474 shares of company stock valued at $367,007 over the last three months. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Gevo in the 1st quarter valued at approximately $89,000. BNP Paribas Financial Markets boosted its holdings in shares of Gevo by 79.5% in the first quarter. BNP Paribas Financial Markets now owns 142,679 shares of the energy company’s stock valued at $110,000 after buying an additional 63,179 shares during the period. Vanguard Group Inc. increased its position in shares of Gevo by 3.1% during the first quarter. Vanguard Group Inc. now owns 13,805,071 shares of the energy company’s stock worth $10,612,000 after acquiring an additional 409,693 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $263,000 after acquiring an additional 192,457 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Gevo in the 1st quarter valued at $74,000. 35.17% of the stock is 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.