Gevo (NASDAQ:GEVO) Stock Price Down 6.6% – Here’s Why

Gevo, Inc. (NASDAQ:GEVO) traded down 6.6% during mid-day trading on Tuesday . The stock traded as low as $2.41 and last traded at $2.53. 6,789,267 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 17,031,652 shares. The stock had previously closed at $2.71.

Wall Street Analysts Forecast Growth

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

Gevo Stock Down 4.1 %

The firm’s 50 day simple moving average is $1.76 and its 200 day simple moving average is $1.37. The company has a market cap of $557.82 million, a price-to-earnings ratio of -6.85 and a beta of 2.77. The company has a quick ratio of 8.05, a current ratio of 8.25 and a debt-to-equity ratio of 0.13.

Insider Activity at Gevo

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in shares of Gevo during the second quarter valued at $2,888,000. Point72 Asset Management L.P. increased its position 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 acquiring an additional 812,870 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gevo in the second quarter worth approximately $295,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Gevo during the second quarter valued at approximately $112,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Gevo in the 2nd quarter valued at approximately $64,000. 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.