Gevo (NASDAQ:GEVO) Shares Up 2.5% – Here’s What Happened

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

Wall Street Analyst Weigh In

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

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 business’s 50 day simple moving average is $1.78 and its 200 day simple moving average is $1.45. The stock has a market cap of $526.70 million, a P/E ratio of -6.47 and a beta of 2.77.

Insider Transactions at Gevo

In other news, insider Andrew Shafer sold 26,911 shares of the company’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 of the company’s stock, valued at approximately $787,859.10. This represents a 7.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gevo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lauterbach Financial Advisors LLC acquired a new stake in shares of Gevo during the third quarter worth approximately $29,000. Signal Advisors Wealth LLC acquired a new stake in Gevo during the 4th quarter valued at $34,000. Alternative Investment Advisors LLC. bought a new position in Gevo in the 2nd quarter valued at $51,000. Ballentine Partners LLC acquired a new position in Gevo in the fourth quarter worth $54,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Gevo during the fourth quarter worth $59,000. 35.17% of the stock is currently 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.