Gevo (NASDAQ:GEVO) Trading Down 13.9% – Here’s Why

Gevo, Inc. (NASDAQ:GEVO) shares dropped 13.9% during mid-day trading on Tuesday . The company traded as low as $1.86 and last traded at $1.90. Approximately 5,130,079 shares traded hands during trading, a decline of 51% from the average daily volume of 10,371,905 shares. The stock had previously closed at $2.20.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Gevo from $0.85 to $3.25 and gave the company a “neutral” rating in a research 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 Trading Down 12.5 %

The firm has a fifty day moving average of $1.79 and a 200 day moving average of $1.46. The firm has a market capitalization of $460.86 million, a PE ratio of -5.63 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.

Insider Activity

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

Institutional Investors Weigh In On Gevo

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in shares of Gevo in the 2nd quarter valued at approximately $2,888,000. Point72 Asset Management L.P. lifted its holdings in Gevo by 54.2% in the third quarter. Point72 Asset Management L.P. now owns 2,312,870 shares of the energy company’s stock worth $3,770,000 after acquiring an additional 812,870 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Gevo in the second quarter valued at approximately $295,000. Cubist Systematic Strategies LLC bought a new position in shares of Gevo during the second quarter valued at approximately $112,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Gevo during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 35.17% of the company’s stock.

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.