Gevo (NASDAQ:GEVO) Trading Down 6.3% – Here’s What Happened

Gevo, Inc. (NASDAQ:GEVO)’s stock price was down 6.3% during trading on Thursday . The stock traded as low as $2.06 and last traded at $2.07. Approximately 1,925,764 shares changed hands during trading, a decline of 83% from the average daily volume of 11,019,677 shares. The stock had previously closed at $2.21.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Gevo in a research report on Wednesday, November 13th. UBS Group raised their price objective on Gevo from $0.85 to $3.25 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd.

Gevo Stock Down 0.2 %

The stock has a 50-day moving average of $1.76 and a 200 day moving average of $1.42. The company has a market capitalization of $527.90 million, a PE ratio of -6.49 and a beta of 2.77. The company has a quick ratio of 8.05, a current ratio of 8.25 and a debt-to-equity ratio of 0.13.

Insider Activity

In other Gevo news, insider Andrew Shafer sold 26,911 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $2.37, for a total value of $63,779.07. Following the transaction, the insider now directly owns 332,430 shares in the company, valued at $787,859.10. The trade was a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Gevo

Several large investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in Gevo in the second quarter valued at approximately $2,888,000. Point72 Asset Management L.P. lifted its position in shares of Gevo by 54.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,312,870 shares of the energy company’s stock valued at $3,770,000 after buying an additional 812,870 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gevo during the 2nd quarter worth $295,000. Cubist Systematic Strategies LLC purchased a new stake in Gevo in the 2nd quarter worth about $112,000. Finally, Point72 DIFC Ltd purchased a new stake in Gevo in the 2nd quarter worth about $64,000. Hedge funds and other institutional investors own 35.17% of the company’s stock.

About Gevo

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.