Gevo (NASDAQ:GEVO) Shares Down 3.1% – Here’s What Happened

Shares of Gevo, Inc. (NASDAQ:GEVO) dropped 3.1% on Wednesday . The company traded as low as $1.37 and last traded at $1.39. Approximately 1,031,635 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 5,899,437 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

GEVO has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Gevo in a research note on Wednesday, November 13th. UBS Group increased their price target on Gevo from $0.85 to $3.25 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd.

Gevo Price Performance

The firm has a market cap of $332.78 million, a price-to-earnings ratio of -4.09 and a beta of 2.94. 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 company has a 50 day moving average of $1.93 and a 200 day moving average of $1.10.

Insider Buying and Selling

In other Gevo news, insider Andrew Shafer sold 26,911 shares of the 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 transaction, the insider now owns 332,430 shares in the company, valued at approximately $787,859.10. This represents a 7.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Bloom sold 16,000 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $3.06, for a total value of $48,960.00. Following the transaction, the insider now owns 947,882 shares of the company’s stock, valued at approximately $2,900,518.92. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gevo

Hedge funds have recently modified their holdings of the stock. Bayesian Capital Management LP bought a new position in shares of Gevo in the 1st quarter valued at about $27,000. Lauterbach Financial Advisors LLC bought a new position in shares of Gevo in the 3rd quarter valued at about $29,000. Alternative Investment Advisors LLC. bought a new position in Gevo during the second quarter worth about $51,000. Point72 DIFC Ltd bought a new position in Gevo during the second quarter worth about $64,000. Finally, XTX Topco Ltd grew its holdings 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 purchasing 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.