Gevo (NASDAQ:GEVO) Stock Price Up 1.2% - Here's What Happened

Shares of Gevo, Inc. (NASDAQ:GEVO - Get Free Report) were up 1.2% during mid-day trading on Thursday . The stock traded as high as $1.84 and last traded at $1.80. Approximately 866,152 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 8,599,178 shares. The stock had previously closed at $1.78.

Analysts Set New Price Targets

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

Gevo Stock Performance

The business's 50 day simple moving average is $1.84 and its two-hundred day simple moving average is $1.52. The firm has a market capitalization of $423.75 million, a PE ratio of -5.21 and a beta of 2.77. The company has a current ratio of 8.25, a quick ratio of 8.05 and a debt-to-equity ratio of 0.13.

Gevo (NASDAQ:GEVO - Get Free Report) last announced its earnings results on Thursday, November 7th. The energy company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. The business had revenue of $1.97 million during the quarter, compared to analysts' expectations of $6.08 million. Gevo had a negative net margin of 510.04% and a negative return on equity of 14.95%. During the same period in the prior year, the company earned ($0.07) earnings per share. Research analysts expect that Gevo, Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Activity at Gevo

In other Gevo news, insider Andrew Shafer sold 26,911 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $2.37, for a total transaction of $63,779.07. Following the sale, the insider now owns 332,430 shares in the company, valued at approximately $787,859.10. This trade represents a 7.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Trading of Gevo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC purchased a new position in Gevo in the 2nd quarter worth approximately $2,888,000. International Assets Investment Management LLC bought a new stake in shares of Gevo during the fourth quarter valued at approximately $59,000. Point72 Asset Management L.P. lifted its holdings 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 worth $3,770,000 after buying an additional 812,870 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gevo during the second quarter worth $295,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Gevo during the second quarter valued at $112,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.