Gevo (NASDAQ:GEVO) Shares Gap Up – Here’s What Happened

Gevo, Inc. (NASDAQ:GEVO) shares gapped up before the market opened on Friday . The stock had previously closed at $2.32, but opened at $2.49. Gevo shares last traded at $2.64, with a volume of 4,740,927 shares traded.

Wall Street Analysts Forecast Growth

GEVO has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Gevo in a research note on Wednesday, November 13th. UBS Group raised 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 Price Performance

The firm has a market capitalization of $612.88 million, a P/E ratio of -7.53 and a beta of 2.83. The company has a fifty day moving average of $1.77 and a 200 day moving average of $1.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.25 and a quick ratio of 8.05.

Insider Transactions at Gevo

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

Hedge Funds Weigh In On Gevo

A number of institutional investors and hedge funds have recently made changes to their positions in GEVO. Lauterbach Financial Advisors LLC acquired a new position in Gevo during the 3rd quarter worth approximately $29,000. Alternative Investment Advisors LLC. acquired a new position in shares of Gevo during the second quarter worth approximately $51,000. Point72 DIFC Ltd bought a new position in shares of Gevo in the 2nd quarter worth $64,000. XTX Topco Ltd grew its position in Gevo by 61.8% in the 2nd quarter. XTX Topco Ltd now owns 133,674 shares of the energy company’s stock valued at $74,000 after purchasing an additional 51,057 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Gevo during the 2nd quarter valued at $112,000. Institutional investors 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.