Gevo (NASDAQ:GEVO) Shares Down 2.9% - Here's Why

Gevo, Inc. (NASDAQ:GEVO - Get Free Report)'s stock price fell 2.9% on Wednesday . The company traded as low as $1.56 and last traded at $1.59. 1,121,030 shares changed hands during trading, a decline of 81% from the average session volume of 5,928,384 shares. The stock had previously closed at $1.64.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 target price on shares of Gevo in a research note on Wednesday. UBS Group boosted their price objective on shares of Gevo from $0.85 to $3.25 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd.

Gevo Stock Performance

The business has a fifty day moving average of $1.83 and a 200 day moving average of $1.07. The company has a market cap of $344.75 million, a P/E ratio of -4.29 and a beta of 2.94. 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, CFO L Lynn Smull sold 69,738 shares of Gevo stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $0.76, for a total transaction of $53,000.88. Following the sale, the chief financial officer now directly owns 1,169,602 shares in the company, valued at $888,897.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Patrick R. Gruber sold 164,428 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $0.76, for a total value of $124,965.28. Following the sale, the chief executive officer now directly owns 3,757,976 shares of the company's stock, valued at $2,856,061.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO L Lynn Smull sold 69,738 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $0.76, for a total value of $53,000.88. Following the transaction, the chief financial officer now directly owns 1,169,602 shares of the company's stock, valued at approximately $888,897.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 377,474 shares of company stock valued at $367,007. Corporate insiders own 4.00% of the company's stock.

Hedge Funds Weigh In On Gevo

Several institutional investors and hedge funds have recently modified their holdings of GEVO. Lauterbach Financial Advisors LLC purchased a new position in Gevo in the third quarter worth about $29,000. Bayesian Capital Management LP bought a new position in Gevo in the 1st quarter valued at approximately $27,000. Financial Advocates Investment Management purchased a new stake in Gevo during the 3rd quarter valued at $114,000. Alternative Investment Advisors LLC. bought a new stake in shares of Gevo in the 2nd quarter worth $51,000. Finally, Paloma Partners Management Co bought a new position in shares of Gevo during the first quarter valued at $74,000. 35.17% of the stock is currently 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.

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