Gevo, Inc. (NASDAQ:GEVO) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in Gevo, Inc. (NASDAQ:GEVO) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,455,703 shares of the energy company’s stock after selling 65,905 shares during the quarter. Geode Capital Management LLC owned approximately 1.03% of Gevo worth $4,005,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in shares of Gevo during the second quarter valued at approximately $2,888,000. Point72 Asset Management L.P. boosted its position in Gevo by 54.2% during 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. acquired a new position in Gevo during the 2nd quarter valued at approximately $295,000. Cubist Systematic Strategies LLC bought a new position in Gevo during the 2nd quarter worth $112,000. Finally, Point72 DIFC Ltd acquired a new stake in Gevo in the second quarter worth $64,000. Institutional investors own 35.17% of the company’s stock.

Gevo Stock Up 22.8 %

GEVO opened at $2.85 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 8.25 and a quick ratio of 8.05. Gevo, Inc. has a 12 month low of $0.48 and a 12 month high of $3.39. The stock’s 50 day moving average price is $1.77 and its 200 day moving average price is $1.33. The stock has a market cap of $682.31 million, a P/E ratio of -8.38 and a beta of 2.77.

Wall Street Analysts Forecast Growth

GEVO has been the subject of several recent research reports. UBS Group upped their price target on shares of Gevo from $0.85 to $3.25 and gave the stock a “neutral” rating in a research 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 note on Wednesday, November 13th.

Insider Activity

In other news, insider Paul D. Bloom sold 16,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $3.06, for a total value of $48,960.00. Following the completion of the transaction, the insider now directly owns 947,882 shares in the company, valued at $2,900,518.92. This trade represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 4.00% 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.