Gevo, Inc. (NASDAQ:GEVO – Get Free Report) was the target of some unusual options trading activity on Thursday. Traders purchased 12,387 call options on the stock. This is an increase of approximately 240% compared to the typical volume of 3,647 call options.
Insider Activity at Gevo
In other Gevo news, insider Andrew Shafer sold 26,911 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $2.37, for a total transaction of $63,779.07. Following the transaction, the insider now directly owns 332,430 shares in the company, valued at approximately $787,859.10. This trade represents a 7.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Bloom sold 16,000 shares of Gevo stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $3.06, for a total transaction 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. 4.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Gevo
Several institutional investors have recently bought and sold shares of GEVO. Millennium Management LLC bought a new stake in Gevo during the 2nd quarter valued at $2,888,000. Point72 Asset Management L.P. grew its stake in 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 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 in the 2nd quarter worth $295,000. Cubist Systematic Strategies LLC purchased a new stake in Gevo during the second quarter valued at about $112,000. Finally, XTX Topco Ltd boosted its holdings in shares of Gevo by 61.8% in the 2nd quarter. XTX Topco Ltd now owns 133,674 shares of the energy company’s stock worth $74,000 after purchasing an additional 51,057 shares in the last quarter. Hedge funds and other institutional investors own 35.17% of the company’s stock.
Gevo Stock Performance
Shares of NASDAQ GEVO traded up $0.53 during mid-day trading on Thursday, reaching $2.04. 25,675,952 shares of the company’s stock were exchanged, compared to its average volume of 5,786,262. The firm has a 50-day moving average price of $1.87 and a two-hundred day moving average price of $1.25. 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 has a 52 week low of $0.48 and a 52 week high of $3.39. The firm has a market capitalization of $488.39 million, a price-to-earnings ratio of -6.00 and a beta of 2.83.
Analysts Set New Price Targets
Several research firms recently weighed in on GEVO. HC Wainwright restated a “buy” rating and set a $14.00 price target 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 note on Tuesday, October 22nd.
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.