Gevo (NASDAQ:GEVO) Stock Price Down 0.9% - Here's What Happened

Gevo, Inc. (NASDAQ:GEVO - Get Free Report)'s share price dropped 0.9% during trading on Monday . The stock traded as low as $1.62 and last traded at $1.75. Approximately 1,845,330 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 8,156,505 shares. The stock had previously closed at $1.76.

Wall Street Analysts Forecast Growth

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

Gevo Trading Up 6.0 %

The company has a current ratio of 8.25, a quick ratio of 8.05 and a debt-to-equity ratio of 0.13. The stock has a market cap of $462.06 million, a PE ratio of -5.68 and a beta of 2.73. The firm has a fifty day simple moving average of $1.87 and a two-hundred day simple moving average of $1.56.

Gevo (NASDAQ:GEVO - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The energy company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Gevo had a negative net margin of 510.04% and a negative return on equity of 14.95%. The firm had revenue of $1.97 million for the quarter, compared to analysts' expectations of $6.08 million. During the same quarter last year, the company posted ($0.07) EPS. As a group, equities analysts expect that Gevo, Inc. will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gevo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in Gevo during the 2nd quarter valued at $2,888,000. Point72 Asset Management L.P. increased its position in shares of Gevo by 54.2% in the third quarter. Point72 Asset Management L.P. now owns 2,312,870 shares of the energy company's stock valued at $3,770,000 after acquiring an additional 812,870 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Gevo during the fourth quarter valued at about $468,000. Cubist Systematic Strategies LLC bought a new stake in shares of Gevo in the second quarter worth about $112,000. Finally, Financial Advocates Investment Management raised its position in Gevo by 28.5% during the 4th quarter. Financial Advocates Investment Management now owns 90,000 shares of the energy company's stock valued at $188,000 after purchasing an additional 19,980 shares during the last quarter. Institutional investors own 35.17% of the company's stock.

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.