Gevo, Inc. (NASDAQ:GEVO) dropped 5.2% on Thursday . The stock traded as low as $6.11 and last traded at $6.17. Approximately 109,882 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 7,494,411 shares. The stock had previously closed at $6.51.
Separately, Zacks Investment Research raised Gevo from a “sell” rating to a “hold” rating in a research report on Thursday, July 15th.
The company’s 50 day moving average price is $7.27. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -9.43 and a beta of 3.31.
A number of hedge funds have recently bought and sold shares of GEVO. BlackRock Inc. lifted its stake in Gevo by 22,098.5% during the fourth quarter. BlackRock Inc. now owns 1,793,857 shares of the energy company’s stock worth $7,624,000 after purchasing an additional 1,785,776 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Gevo by 3,462.9% during the first quarter. Baird Financial Group Inc. now owns 1,247,014 shares of the energy company’s stock worth $12,233,000 after purchasing an additional 1,212,014 shares during the last quarter. Credit Suisse AG purchased a new stake in Gevo during the first quarter worth approximately $8,392,000. Geode Capital Management LLC lifted its stake in Gevo by 76.8% in the first quarter. Geode Capital Management LLC now owns 1,537,949 shares of the energy company’s stock valued at $15,087,000 after buying an additional 667,928 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Gevo by 18.6% in the first quarter. Renaissance Technologies LLC now owns 4,232,900 shares of the energy company’s stock valued at $41,525,000 after buying an additional 662,633 shares during the last quarter. Hedge funds and other institutional investors own 23.51% of the company’s stock.
About Gevo (NASDAQ:GEVO)
Gevo, Inc operates as a renewable fuels company. The company commercializes gasoline, jet fuel, and diesel fuel to achieve zero carbon emissions, and reduce greenhouse gas emissions with sustainable alternatives. Its products also include renewable biodiesel, isooctane, isobutanol, sustainable aviation fuel, isobutylene, ethanol, and animal feed.
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