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

Gevo, Inc. (NASDAQ:GEVO) was down 6.6% during trading on Tuesday . The company traded as low as $2.41 and last traded at $2.53. 6,789,267 shares traded hands during 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

Several research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Gevo in a report on Wednesday, November 13th. UBS Group raised their price target on Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd.

Gevo Price Performance

The company has a market capitalization of $576.97 million, a PE ratio of -7.09 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. The company’s 50 day moving average price is $1.77 and its 200-day moving average price is $1.35.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd increased its stake in shares of Gevo by 61.8% in the second quarter. XTX Topco Ltd now owns 133,674 shares of the energy company’s stock worth $74,000 after buying an additional 51,057 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Gevo in the 2nd quarter valued at about $64,000. Cubist Systematic Strategies LLC bought a new position in shares of Gevo during the second quarter worth about $112,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Gevo in the second quarter worth about $295,000. Finally, Millennium Management LLC bought a new stake in Gevo in the second quarter valued at about $2,888,000. 35.17% of the stock is owned by institutional investors and hedge funds.

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.