Gevo (NASDAQ:GEVO) Trading Down 5.8% – Time to Sell?

Gevo, Inc. (NASDAQ:GEVO)’s stock price dropped 5.8% during mid-day trading on Wednesday . The company traded as low as $2.27 and last traded at $2.29. Approximately 2,484,920 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 15,364,339 shares. The stock had previously closed at $2.43.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GEVO shares. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Gevo in a research note on Wednesday, November 13th. UBS Group raised their price objective on Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd.

Gevo Stock Performance

The stock’s 50 day moving average price is $1.76 and its 200 day moving average price is $1.36. 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 firm has a market cap of $567.39 million, a PE ratio of -6.97 and a beta of 2.77.

Insider Activity

In related news, insider Andrew Shafer sold 26,911 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $2.37, for a total value of $63,779.07. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Bloom sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $3.06, for a total value of $48,960.00. Following the sale, the insider now owns 947,882 shares of the company’s stock, valued at approximately $2,900,518.92. This trade represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Trading of Gevo

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