Gevo (NASDAQ:GEVO) Shares Up 0.6% – Here’s What Happened

Gevo, Inc. (NASDAQ:GEVO)’s share price rose 0.6% on Tuesday . The stock traded as high as $1.46 and last traded at $1.45. Approximately 908,857 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 5,911,893 shares. The stock had previously closed at $1.44.

Analyst Upgrades and Downgrades

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

Gevo Stock Down 3.5 %

The company has a quick ratio of 8.05, a current ratio of 8.25 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $1.10.

Insiders Place Their Bets

In related news, insider Paul D. Bloom sold 16,000 shares of Gevo 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 transaction, the insider now owns 947,882 shares in the company, valued at approximately $2,900,518.92. This trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Shafer sold 26,911 shares of Gevo 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 completion of the transaction, the insider now owns 332,430 shares of the company’s stock, valued at approximately $787,859.10. This represents a 7.49 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Gevo by 3.1% in the first quarter. Vanguard Group Inc. now owns 13,805,071 shares of the energy company’s stock worth $10,612,000 after purchasing an additional 409,693 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Gevo in the 2nd quarter valued at $2,888,000. Point72 Asset Management L.P. grew its position in Gevo by 54.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,312,870 shares of the energy company’s stock worth $3,770,000 after purchasing an additional 812,870 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gevo during the 2nd quarter worth about $295,000. Finally, 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. Hedge funds and other 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.