Gevo (NASDAQ:GEVO) Shares Down 4.1% – Here’s What Happened

Gevo, Inc. (NASDAQ:GEVO)’s share price dropped 4.1% during mid-day trading on Thursday . The company traded as low as $2.24 and last traded at $2.33. Approximately 7,042,123 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 16,332,476 shares. The stock had previously closed at $2.43.

Analyst Upgrades and Downgrades

GEVO has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Gevo in a report on Wednesday, November 13th. UBS Group increased 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.

Gevo Stock Performance

The company has a quick ratio of 8.05, a current ratio of 8.25 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $541.06 million, a PE ratio of -6.65 and a beta of 2.77. The stock’s fifty day simple moving average is $1.76 and its 200-day simple moving average is $1.37.

Insider Transactions at Gevo

In other news, insider Paul D. Bloom sold 16,000 shares of the firm’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 directly owns 947,882 shares of the company’s stock, valued at $2,900,518.92. This trade represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew Shafer sold 26,911 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 332,430 shares of the company’s stock, 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. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Gevo

A number of hedge funds have recently bought and sold shares of GEVO. XTX Topco Ltd boosted its position in Gevo by 61.8% during the second quarter. XTX Topco Ltd now owns 133,674 shares of the energy company’s stock worth $74,000 after acquiring an additional 51,057 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Gevo during the second quarter worth approximately $64,000. Cubist Systematic Strategies LLC acquired a new position in shares of Gevo in the 2nd quarter valued at $112,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Gevo in the 2nd quarter valued at $295,000. Finally, Millennium Management LLC acquired a new position in shares of Gevo in the 2nd quarter valued at $2,888,000. Institutional investors and hedge funds 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.