Gevo (NASDAQ:GEVO) Shares Up 2.5% – Time to Buy?

Gevo, Inc. (NASDAQ:GEVO)’s stock price traded up 2.5% during trading on Friday . The stock traded as high as $2.32 and last traded at $2.26. 2,582,622 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 10,637,775 shares. The stock had previously closed at $2.20.

Wall Street Analysts Forecast Growth

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

Gevo Price Performance

The company has a 50 day moving average of $1.76 and a two-hundred day moving average of $1.43. The firm has a market cap of $523.10 million, a P/E ratio of -6.43 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

In related news, insider Andrew Shafer sold 26,911 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 332,430 shares in the company, valued at approximately $787,859.10. This trade represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Gevo

Several large investors have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in shares of Gevo during the second quarter worth $2,888,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gevo during the 2nd quarter valued at $295,000. International Assets Investment Management LLC acquired a new stake in shares of Gevo in the fourth quarter worth $59,000. Point72 Asset Management L.P. grew its holdings in shares of Gevo by 54.2% during the third quarter. Point72 Asset Management L.P. now owns 2,312,870 shares of the energy company’s stock valued at $3,770,000 after buying an additional 812,870 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Gevo during the second quarter valued at $112,000. 35.17% of the stock is owned by institutional investors.

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.