Gevo (NASDAQ:GEVO) Stock Price Up 1.2% – Here’s What Happened

Shares of Gevo, Inc. (NASDAQ:GEVO) were up 1.2% during mid-day trading on Thursday . The stock traded as high as $1.84 and last traded at $1.80. Approximately 866,152 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 8,599,178 shares. The stock had previously closed at $1.78.

Analysts Set New Price Targets

A number of analysts have commented on GEVO shares. HC Wainwright reissued 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 target price on Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd.

Gevo Stock Performance

The business’s 50 day simple moving average is $1.84 and its two-hundred day simple moving average is $1.52. The firm has a market capitalization of $423.75 million, a PE ratio of -5.21 and a beta of 2.77. The company has a current ratio of 8.25, a quick ratio of 8.05 and a debt-to-equity ratio of 0.13.

Gevo (NASDAQ:GEVO) last announced its earnings results on Thursday, November 7th. The energy company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $1.97 million during the quarter, compared to analysts’ expectations of $6.08 million. Gevo had a negative net margin of 510.04% and a negative return on equity of 14.95%. During the same period in the prior year, the company earned ($0.07) earnings per share. Research analysts expect that Gevo, Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Activity at Gevo

In other Gevo news, insider Andrew Shafer sold 26,911 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 in the company, valued at approximately $787,859.10. This trade represents a 7.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Trading of Gevo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC purchased a new position in Gevo in the 2nd quarter worth approximately $2,888,000. International Assets Investment Management LLC bought a new stake in shares of Gevo during the fourth quarter valued at approximately $59,000. 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 worth $3,770,000 after buying an additional 812,870 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gevo during the second quarter worth $295,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Gevo during the second quarter valued at $112,000. 35.17% of the stock is owned by hedge funds and other institutional investors.

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.