Geode Capital Management LLC Boosts Stock Holdings in Gevo, Inc. $GEVO

Geode Capital Management LLC lifted its stake in Gevo, Inc. (NASDAQ:GEVO) by 104.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,623,004 shares of the energy company’s stock after purchasing an additional 2,873,940 shares during the period. Geode Capital Management LLC owned about 2.35% of Gevo worth $7,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC acquired a new stake in Gevo in the 2nd quarter valued at about $63,000. R Squared Ltd purchased a new stake in shares of Gevo during the second quarter worth approximately $39,000. International Assets Investment Management LLC acquired a new stake in Gevo in the second quarter valued at approximately $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Gevo in the second quarter worth approximately $116,000. Finally, Goldman Sachs Group Inc. grew its holdings in Gevo by 11.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,499 shares of the energy company’s stock worth $1,351,000 after acquiring an additional 123,170 shares in the last quarter. 35.17% of the stock is owned by institutional investors and hedge funds.

Gevo Stock Performance

Shares of GEVO stock opened at $2.29 on Friday. The stock’s 50-day moving average is $2.20 and its two-hundred day moving average is $1.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.60 and a current ratio of 1.91. Gevo, Inc. has a 1 year low of $0.92 and a 1 year high of $2.98. The firm has a market cap of $554.89 million, a price-to-earnings ratio of -11.45 and a beta of 1.44.

Gevo (NASDAQ:GEVO) last announced its earnings results on Monday, November 10th. The energy company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $42.71 million during the quarter, compared to analysts’ expectations of $26.82 million. Gevo had a negative return on equity of 9.49% and a negative net margin of 37.33%. Analysts predict that Gevo, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Gevo

In related news, COO Christopher Michael Ryan sold 100,000 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $2.82, for a total transaction of $282,000.00. Following the completion of the sale, the chief operating officer owned 1,531,938 shares in the company, valued at $4,320,065.16. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Bloom sold 75,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $2.01, for a total transaction of $150,750.00. Following the transaction, the insider directly owned 923,591 shares in the company, valued at $1,856,417.91. The trade was a 7.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 397,954 shares of company stock valued at $941,982. 6.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEVO. Northland Capmk upgraded shares of Gevo to a “strong-buy” rating in a report on Monday, December 1st. UBS Group raised their price target on Gevo from $1.15 to $2.25 and gave the company a “neutral” rating in a research note on Wednesday, September 17th. Wall Street Zen raised Gevo from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gevo in a report on Wednesday, October 8th. Finally, HC Wainwright restated a “buy” rating on shares of Gevo in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Gevo has a consensus rating of “Moderate Buy” and an average price target of $6.42.

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.