Verde Clean Fuels (NASDAQ:VGAS) Trading Down 3.4% – What’s Next?

Shares of Verde Clean Fuels, Inc. (NASDAQ:VGAS) dropped 3.4% during mid-day trading on Tuesday . The stock traded as low as $3.65 and last traded at $3.75. Approximately 13,506 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 19,677 shares. The stock had previously closed at $3.88.

Verde Clean Fuels Stock Performance

The company has a 50 day moving average of $4.07 and a 200-day moving average of $4.08. The stock has a market cap of $119.55 million, a price-to-earnings ratio of -7.46 and a beta of -0.60.

Hedge Funds Weigh In On Verde Clean Fuels

An institutional investor recently raised its position in Verde Clean Fuels stock. Geode Capital Management LLC lifted its stake in shares of Verde Clean Fuels, Inc. (NASDAQ:VGAS) by 8.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,807 shares of the company’s stock after buying an additional 6,191 shares during the quarter. Geode Capital Management LLC owned approximately 0.24% of Verde Clean Fuels worth $310,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.61% of the company’s stock.

Verde Clean Fuels Company Profile

Verde Clean Fuels, Inc, operates as a clean energy technology company in the United States. It specializes in the conversion of synthesis gas, or syngas, derived from feedstocks, such as biomass, natural gas, and other feedstocks into liquid hydrocarbons that can be used as gasoline through proprietary liquid fuels technology.