Gevo (NASDAQ:GEVO) Trading 0.9% Higher - Here's Why

Gevo, Inc. (NASDAQ:GEVO - Get Free Report)'s stock price was up 0.9% during trading on Tuesday . The company traded as high as $2.26 and last traded at $2.17. Approximately 2,064,338 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 12,341,798 shares. The stock had previously closed at $2.15.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GEVO shares. UBS Group upped their price objective on shares of Gevo from $0.85 to $3.25 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. HC Wainwright reissued a "buy" rating and set a $14.00 target price on shares of Gevo in a research report on Wednesday, November 13th.

Gevo Price Performance

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 fifty day simple moving average of $1.76 and a 200-day simple moving average of $1.42. The stock has a market cap of $526.70 million, a price-to-earnings ratio of -6.47 and a beta of 2.77.

Insider Activity

In other 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 transaction of $63,779.07. Following the completion of the transaction, the insider now owns 332,430 shares of the company's stock, valued at approximately $787,859.10. This represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a 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 have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in shares of Gevo during the 2nd quarter valued at about $2,888,000. Point72 Asset Management L.P. grew its stake in shares of Gevo by 54.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,312,870 shares of the energy company's stock valued at $3,770,000 after purchasing an additional 812,870 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gevo during the 2nd quarter worth approximately $295,000. Cubist Systematic Strategies LLC acquired a new stake in Gevo in the 2nd quarter valued at $112,000. Finally, Point72 DIFC Ltd bought a new stake in Gevo in the second quarter valued at $64,000. Institutional investors own 35.17% of the company's stock.

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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