Gevo (NASDAQ:GEVO) Shares Gap Up – Here’s What Happened

Shares of Gevo, Inc. (NASDAQ:GEVO) gapped up before the market opened on Friday . The stock had previously closed at $2.04, but opened at $2.10. Gevo shares last traded at $2.12, with a volume of 5,663,420 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Gevo in a report on Wednesday, November 13th. UBS Group upped their price target on Gevo from $0.85 to $3.25 and gave the company a “neutral” rating in a report on Tuesday, October 22nd.

Gevo Stock 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 company has a market cap of $502.75 million, a PE ratio of -6.18 and a beta of 2.83. The business’s 50 day moving average is $1.84 and its two-hundred day moving average is $1.26.

Insider Transactions at Gevo

In other Gevo news, insider Andrew Shafer sold 26,911 shares of Gevo stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $2.37, for a total value of $63,779.07. Following the transaction, the insider now directly owns 332,430 shares of the company’s stock, valued at approximately $787,859.10. The trade was a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Bloom sold 16,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $3.06, for a total value 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. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Gevo

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC purchased a new position in Gevo during the second quarter valued at approximately $2,888,000. Point72 Asset Management L.P. grew its position in Gevo by 54.2% during 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 buying an additional 812,870 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Gevo in the second quarter valued at $295,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Gevo during the 2nd quarter worth about $112,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Gevo during the 2nd quarter valued at about $64,000. 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.