Gevo (NASDAQ:GEVO) Stock Price Down 6.6% – Time to Sell?

Gevo, Inc. (NASDAQ:GEVO)’s share price traded down 6.6% on Tuesday . The company traded as low as $2.41 and last traded at $2.53. 6,789,267 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 17,031,652 shares. The stock had previously closed at $2.71.

Analysts Set New Price Targets

Several analysts have weighed in on GEVO shares. 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. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Gevo in a report on Wednesday, November 13th.

Gevo Stock Down 4.1 %

The stock has a fifty day moving average price of $1.76 and a 200-day moving average price of $1.37. The firm has a market cap of $557.82 million, a PE ratio of -6.85 and a beta of 2.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 8.05 and a current ratio of 8.25.

Insiders Place Their Bets

In other Gevo 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 value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Bloom sold 16,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $3.06, for a total value of $48,960.00. Following the sale, the insider now owns 947,882 shares of the company’s stock, valued at $2,900,518.92. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gevo

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