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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GEVO shares. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Gevo in a research report on Wednesday, November 13th. UBS Group upped their target price on Gevo from $0.85 to $3.25 and gave the company a “neutral” rating in a report on Tuesday, October 22nd.

Gevo Stock Down 0.2 %

The stock’s 50-day simple moving average is $1.76 and its 200 day simple moving average is $1.42. 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 firm has a market cap of $527.90 million, a P/E ratio of -6.49 and a beta of 2.77.

Insider Buying and Selling

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

Institutional Investors Weigh In On Gevo

Several hedge funds and other institutional investors have recently bought and sold shares of GEVO. XTX Topco Ltd grew its stake in shares of Gevo by 61.8% in the 2nd quarter. XTX Topco Ltd now owns 133,674 shares of the energy company’s stock valued at $74,000 after buying an additional 51,057 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Gevo during the second quarter valued at approximately $64,000. Cubist Systematic Strategies LLC acquired a new position in shares of Gevo during the second quarter worth approximately $112,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Gevo during the second quarter worth approximately $295,000. Finally, Millennium Management LLC bought a new position in shares of Gevo in the 2nd quarter worth $2,888,000. 35.17% of the stock is owned by institutional investors.

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.