Gevo, Inc. (NASDAQ:GEVO) Sees Large Drop in Short Interest

Gevo, Inc. (NASDAQ:GEVO) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 26,400,000 shares, a drop of 17.6% from the October 31st total of 32,040,000 shares. Based on an average trading volume of 8,490,000 shares, the short-interest ratio is currently 3.1 days.

Gevo Stock Performance

NASDAQ GEVO traded up $0.06 during mid-day trading on Friday, reaching $1.65. 2,891,584 shares of the stock were exchanged, compared to its average volume of 5,875,282. Gevo has a 1 year low of $0.48 and a 1 year high of $3.39. The business’s 50 day moving average is $1.95 and its 200-day moving average is $1.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 8.05 and a current ratio of 8.25. The company has a market capitalization of $395.03 million, a P/E ratio of -4.85 and a beta of 2.94.

Insider Buying and Selling

In other news, insider Paul D. Bloom sold 16,000 shares of the stock in a transaction on 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 in the company, valued at $2,900,518.92. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Shafer sold 26,911 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 332,430 shares of the company’s stock, valued at approximately $787,859.10. This trade represents a 7.49 % 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

Several institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. grew its holdings in 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 valued at $3,770,000 after buying an additional 812,870 shares during the period. Lauterbach Financial Advisors LLC acquired a new stake in shares of Gevo in the third quarter worth approximately $29,000. Financial Advocates Investment Management purchased a new stake in Gevo in the third quarter valued at approximately $114,000. Alternative Investment Advisors LLC. acquired a new position in Gevo during the second quarter worth approximately $51,000. Finally, Point72 DIFC Ltd acquired a new position in Gevo during the second quarter worth approximately $64,000. 35.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.