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

Gevo, Inc. (NASDAQ:GEVO - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $2.71, but opened at $2.64. Gevo shares last traded at $2.54, with a volume of 3,768,049 shares traded.

Wall Street Analysts Forecast Growth

GEVO has been the topic of several research analyst reports. UBS Group increased their price target on shares of Gevo from $0.85 to $3.25 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. HC Wainwright reaffirmed a "buy" rating and set a $14.00 price objective 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 has a fifty day moving average price of $1.76 and a two-hundred day moving average price of $1.36. The company has a market capitalization of $581.76 million, a P/E ratio of -7.15 and a beta of 2.77.

Insider Activity

In related 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 in the company, valued at $787,859.10. This represents a 7.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Bloom sold 16,000 shares of Gevo stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $3.06, for a total transaction of $48,960.00. Following the transaction, the insider now directly owns 947,882 shares in the company, valued at $2,900,518.92. This represents a 1.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.00% of the company's stock.

Institutional Investors Weigh In On Gevo

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd increased its holdings in Gevo by 61.8% during the second quarter. XTX Topco Ltd now owns 133,674 shares of the energy company's stock worth $74,000 after buying an additional 51,057 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Gevo during the 2nd quarter worth approximately $64,000. Cubist Systematic Strategies LLC bought a new stake in shares of Gevo in the 2nd quarter worth approximately $112,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Gevo in the second quarter valued at approximately $295,000. Finally, Millennium Management LLC bought a new position in Gevo during the second quarter valued at $2,888,000. 35.17% of the stock is owned by hedge funds and other 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.