Gevo (NASDAQ:GEVO) Stock Price Down 21.7% Following Insider Selling

Shares of Gevo, Inc. (NASDAQ:GEVO) dropped 21.7% on Wednesday following insider selling activity. The stock traded as low as $1.80 and last traded at $1.84. Approximately 7,146,656 shares changed hands during trading, an increase of 23% from the average daily volume of 5,824,201 shares. The stock had previously closed at $2.35.

Specifically, insider Andrew Shafer sold 26,911 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $2.37, for a total value of $63,779.07. Following the completion of the sale, the insider now directly owns 332,430 shares of the company’s stock, valued at approximately $787,859.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GEVO shares. UBS Group raised their price objective on Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Gevo in a research report on Friday, October 18th.

Gevo Stock Down 26.8 %

The business’s 50 day moving average is $1.74 and its 200 day moving average is $1.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 10.09 and a current ratio of 10.22. The stock has a market cap of $411.89 million, a price-to-earnings ratio of -5.44 and a beta of 2.94.

Gevo (NASDAQ:GEVO) last issued its quarterly earnings results on Thursday, August 8th. The energy company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). Gevo had a negative return on equity of 13.50% and a negative net margin of 407.97%. The business had revenue of $5.26 million for the quarter, compared to the consensus estimate of $3.93 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Equities analysts expect that Gevo, Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of Gevo

A number of institutional investors have recently added to or reduced their stakes in GEVO. Vanguard Group Inc. raised its holdings in shares of Gevo by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 13,805,071 shares of the energy company’s stock valued at $10,612,000 after purchasing an additional 409,693 shares in the last quarter. Millennium Management LLC bought a new position in Gevo during the second quarter valued at about $2,888,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Gevo in the second quarter worth about $295,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Gevo by 128.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 341,936 shares of the energy company’s stock worth $263,000 after acquiring an additional 192,457 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Gevo during the 2nd quarter valued at about $112,000. 35.17% of the stock is currently owned by institutional investors and hedge funds.

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.