Gevo (NASDAQ:GEVO) Shares Gap Up – Still a Buy?

Gevo, Inc. (NASDAQ:GEVO) shares gapped up prior to trading on Friday . The stock had previously closed at $2.32, but opened at $2.49. Gevo shares last traded at $2.64, with a volume of 4,740,927 shares traded.

Analyst Ratings Changes

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

Gevo Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 8.25 and a quick ratio of 8.05. The company’s fifty day moving average price is $1.77 and its 200 day moving average price is $1.31. The company has a market cap of $612.88 million, a PE ratio of -7.53 and a beta of 2.83.

Insiders Place Their Bets

In related news, insider Andrew Shafer sold 26,911 shares of the stock in a transaction dated 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 transaction, the insider now owns 332,430 shares in the company, valued at approximately $787,859.10. This represents a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $48,960.00. Following the completion of the sale, the insider now directly owns 947,882 shares in the company, valued at approximately $2,900,518.92. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GEVO. Millennium Management LLC bought a new position in shares of Gevo during the 2nd quarter worth $2,888,000. Point72 Asset Management L.P. boosted its position in 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 worth $3,770,000 after purchasing an additional 812,870 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Gevo during the second quarter worth about $295,000. Cubist Systematic Strategies LLC purchased a new position in shares of Gevo in the second quarter worth about $112,000. Finally, XTX Topco Ltd raised its position 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 valued at $74,000 after purchasing an additional 51,057 shares during the period. 35.17% of the stock is owned by institutional investors.

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.