Gevo (NASDAQ:GEVO) Stock Price Down 0.9% – Here’s What Happened

Shares of Gevo, Inc. (NASDAQ:GEVO) dropped 0.9% during mid-day trading on Monday . The stock traded as low as $1.62 and last traded at $1.75. Approximately 1,845,330 shares changed hands during trading, a decline of 77% from the average daily volume of 8,156,505 shares. The stock had previously closed at $1.76.

Analysts Set New Price Targets

GEVO has been the subject of several recent analyst reports. UBS Group raised their target price on Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Gevo in a report on Wednesday, November 13th.

Gevo Stock Performance

The company has a current ratio of 8.25, a quick ratio of 8.05 and a debt-to-equity ratio of 0.13. The stock has a market cap of $418.96 million, a price-to-earnings ratio of -5.15 and a beta of 2.77. The stock’s 50 day moving average is $1.85 and its two-hundred day moving average is $1.54.

Gevo (NASDAQ:GEVO) last released its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Gevo had a negative return on equity of 14.95% and a negative net margin of 510.04%. The firm had revenue of $1.97 million for the quarter, compared to analyst estimates of $6.08 million. During the same quarter last year, the company posted ($0.07) earnings per share. Analysts anticipate that Gevo, Inc. will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Andrew Shafer sold 26,911 shares of the 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 completion of the transaction, the insider now owns 332,430 shares in the company, valued at $787,859.10. This trade represents a 7.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Gevo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in shares of Gevo during the 2nd quarter worth approximately $112,000. Millennium Management LLC acquired a new position in shares of Gevo in the 2nd quarter valued at $2,888,000. Financial Advocates Investment Management acquired a new position in shares of Gevo in the 3rd quarter valued at $114,000. Lauterbach Financial Advisors LLC acquired a new position in shares of Gevo during the 3rd quarter valued at $29,000. Finally, Point72 Asset Management L.P. lifted its holdings 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 acquiring an additional 812,870 shares in the last quarter. 35.17% of the stock is currently owned by institutional investors and hedge funds.

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.