Gevo (NASDAQ:GEVO) Shares Down 4% – Here’s What Happened

Gevo, Inc. (NASDAQ:GEVO) fell 4% on Monday . The stock traded as low as $2.10 and last traded at $2.17. 2,999,812 shares were traded during trading, a decline of 77% from the average session volume of 13,164,008 shares. The stock had previously closed at $2.26.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GEVO. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Gevo in a report on Wednesday, November 13th. UBS Group boosted their price target on Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd.

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 capitalization of $507.54 million, a P/E ratio of -6.24 and a beta of 2.77. The company’s 50-day moving average is $1.76 and its two-hundred day moving average is $1.40.

Insider Transactions at Gevo

In related news, insider Paul D. Bloom sold 16,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $3.06, for a total transaction of $48,960.00. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Shafer sold 26,911 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $2.37, for a total transaction of $63,779.07. Following the sale, the insider now owns 332,430 shares of the company’s stock, valued at $787,859.10. The trade was a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Gevo

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in Gevo in the 2nd quarter worth about $2,888,000. Point72 Asset Management L.P. lifted its holdings in shares of 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 valued at $3,770,000 after purchasing an additional 812,870 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Gevo in the second quarter worth $295,000. Cubist Systematic Strategies LLC purchased a new position in shares of Gevo during the second quarter valued at $112,000. Finally, Point72 DIFC Ltd acquired a new position in Gevo in the 2nd quarter valued at 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.