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

Gevo, Inc. (NASDAQ:GEVOGet Free Report) shares traded down 6.3% on Thursday . The stock traded as low as $2.33 and last traded at $2.39. 5,284,248 shares traded hands during trading, a decline of 8% from the average session volume of 5,767,221 shares. The stock had previously closed at $2.55.

Wall Street Analysts Forecast Growth

GEVO has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Gevo in a report on Friday, October 18th. UBS Group raised their target price on shares of Gevo from $0.85 to $3.25 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd.

Check Out Our Latest Report on GEVO

Gevo Price Performance

The stock has a market capitalization of $567.55 million, a P/E ratio of -7.34 and a beta of 2.98. The firm has a fifty day moving average price of $1.62 and a two-hundred day moving average price of $0.98. The company has a quick ratio of 10.09, a current ratio of 10.22 and a debt-to-equity ratio of 0.13.

Gevo (NASDAQ:GEVOGet Free Report) last announced its quarterly earnings results on Thursday, August 8th. The energy company reported ($0.09) earnings per share for the quarter, meeting 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 company had revenue of $5.26 million during the quarter, compared to the consensus estimate of $3.93 million. During the same quarter last year, the firm earned ($0.06) earnings per share. On average, analysts expect that Gevo, Inc. will post -0.34 EPS for the current year.

Insider Activity

In related news, CEO Patrick R. Gruber sold 127,276 shares of Gevo stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $0.51, for a total value of $64,910.76. Following the completion of the sale, the chief executive officer now owns 3,922,404 shares of the company’s stock, valued at $2,000,426.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Patrick R. Gruber sold 127,276 shares of Gevo stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $0.51, for a total transaction of $64,910.76. Following the transaction, the chief executive officer now owns 3,922,404 shares in the company, valued at $2,000,426.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Bloom sold 16,000 shares of Gevo stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $3.06, for a total value of $48,960.00. Following the transaction, the insider now owns 947,882 shares in the company, valued at $2,900,518.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 583,171 shares of company stock valued at $421,858 over the last ninety days. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Millennium Management LLC bought a new position in Gevo during the second quarter valued at approximately $2,888,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gevo during the 2nd quarter valued at approximately $295,000. Vanguard Group Inc. increased its position in Gevo by 3.1% in the first quarter. Vanguard Group Inc. now owns 13,805,071 shares of the energy company’s stock worth $10,612,000 after purchasing an additional 409,693 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Gevo during the second quarter valued at $112,000. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 valued at $263,000 after purchasing an additional 192,457 shares during the last quarter. Hedge funds and other institutional investors own 35.17% of the company’s stock.

About Gevo

(Get Free Report)

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.

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