Gevo, Inc. (NASDAQ:GEVO) shares dropped 5.2% during mid-day trading on Thursday . The stock traded as low as $6.11 and last traded at $6.17. Approximately 109,882 shares were traded during 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 upgraded shares of Gevo from a “sell” rating to a “hold” rating in a report on Thursday, July 15th.
The stock has a fifty day moving average of $7.27. The firm has a market cap of $1.22 billion, a P/E ratio of -9.43 and a beta of 3.31.
Several hedge funds and other institutional investors have recently modified their holdings of GEVO. BlackRock Inc. grew its stake in shares of Gevo by 22,098.5% during the 4th 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 period. Baird Financial Group Inc. grew its stake in shares of Gevo by 3,462.9% during the 1st 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 period. Credit Suisse AG acquired a new stake in shares of Gevo during the 1st quarter worth approximately $8,392,000. Geode Capital Management LLC grew its stake in shares of Gevo by 76.8% during the 1st quarter. Geode Capital Management LLC now owns 1,537,949 shares of the energy company’s stock worth $15,087,000 after purchasing an additional 667,928 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Gevo by 18.6% during the 1st quarter. Renaissance Technologies LLC now owns 4,232,900 shares of the energy company’s stock worth $41,525,000 after purchasing an additional 662,633 shares during the period. 23.51% of the stock is currently owned by institutional investors and hedge funds.
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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