Gevo (NASDAQ:GEVO) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Gevo (NASDAQ:GEVO) released its quarterly earnings data on Monday. The energy company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01, Zacks reports. The business had revenue of $42.71 million for the quarter, compared to the consensus estimate of $26.82 million. Gevo had a negative return on equity of 9.45% and a negative net margin of 37.33%.

Gevo Trading Up 0.7%

Shares of Gevo stock traded up $0.02 during mid-day trading on Wednesday, hitting $2.11. 537,703 shares of the stock were exchanged, compared to its average volume of 5,169,033. The stock has a market capitalization of $509.07 million, a price-to-earnings ratio of -10.57 and a beta of 2.14. The company has a current ratio of 2.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.29. Gevo has a twelve month low of $0.92 and a twelve month high of $2.98. The company has a 50-day simple moving average of $2.12 and a 200 day simple moving average of $1.63.

Insider Transactions at Gevo

In other news, insider Paul D. Bloom sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $2.01, for a total value of $150,750.00. Following the completion of the sale, the insider owned 923,591 shares of the company’s stock, valued at $1,856,417.91. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Oluwagbemileke Yusuf Agiri sold 57,651 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $1.63, for a total value of $93,971.13. Following the completion of the sale, the chief financial officer owned 277,835 shares of the company’s stock, valued at approximately $452,871.05. This trade represents a 17.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 477,585 shares of company stock worth $1,043,055 in the last quarter. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GEVO. BNP Paribas Financial Markets increased its stake in Gevo by 138.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 20,927 shares of the energy company’s stock worth $28,000 after buying an additional 12,136 shares during the period. Legal & General Group Plc acquired a new stake in shares of Gevo during the second quarter valued at about $28,000. Engineers Gate Manager LP purchased a new stake in shares of Gevo during the second quarter worth about $30,000. Prudential Financial Inc. purchased a new stake in Gevo during the 2nd quarter worth approximately $36,000. Finally, Headlands Technologies LLC acquired a new stake in Gevo during the second quarter valued at approximately $43,000. 35.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on GEVO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Gevo in a research report on Wednesday, October 8th. UBS Group boosted their price objective on Gevo from $1.15 to $2.25 and gave the company a “neutral” rating in a research note on Wednesday, September 17th. Wall Street Zen raised shares of Gevo from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. HC Wainwright reiterated a “buy” rating on shares of Gevo in a research note on Wednesday, October 15th. Finally, Zacks Research raised shares of Gevo from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.13.

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.