Gevo, Inc. $GEVO Shares Sold by First Bank & Trust

Key Points

• First Bank & Trust cut its Gevo stake by 43.7% in the third quarter, selling 1.34 million shares and retaining 1.73 million shares worth approximately $2.27 million. Institutional investors and hedge funds own 35.17% of GEVO.
• GEVO opened at $1.17, near its 12-month low of $1.15, while the company reported quarterly revenue of $46.5 million and an adjusted loss of $0.01 per share, beating analyst estimates.
• Analysts have an overall “Hold” rating on Gevo, with an average price target of $2.55. Company insiders sold 313,286 shares worth about $476,443 during the last quarter, primarily through pre-arranged plans.

First Bank & Trust decreased its holdings in shares of Gevo, Inc. (NASDAQ:GEVO - Free Report) by 43.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,726,507 shares of the energy company's stock after selling 1,338,441 shares during the quarter. First Bank & Trust owned approximately 0.70% of Gevo worth $2,270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Gevo during the first quarter worth approximately $28,000. Sigma Planning Corp purchased a new stake in shares of Gevo during the 1st quarter worth approximately $46,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Gevo during the 1st quarter worth approximately $49,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Gevo in the 1st quarter valued at $51,000. Finally, Caxton Associates LLP acquired a new position in shares of Gevo in the 1st quarter valued at $153,000. 35.17% of the stock is owned by institutional investors and hedge funds.

Gevo Price Performance

GEVO stock opened at $1.17 on Monday. The company has a market capitalization of $289.27 million, a P/E ratio of -1.31 and a beta of 1.14. Gevo, Inc. has a twelve month low of $1.15 and a twelve month high of $2.97. The business has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $1.63. The company has a current ratio of 2.70, a quick ratio of 2.19 and a debt-to-equity ratio of 0.61.

Gevo (NASDAQ:GEVO - Get Free Report) last announced its earnings results on Thursday, August 6th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The business had revenue of $46.50 million for the quarter, compared to analyst estimates of $46.40 million. Gevo had a negative net margin of 119.93% and a negative return on equity of 6.50%. As a group, equities analysts anticipate that Gevo, Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on GEVO shares. Wall Street Zen raised shares of Gevo from a "strong sell" rating to a "sell" rating in a research report on Saturday. Jefferies Financial Group raised shares of Gevo to a "hold" rating in a research report on Tuesday, September 29th. Zacks Research raised Gevo from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Weiss Ratings upgraded Gevo from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, October 2nd. Finally, Northland Securities set a $3.75 target price on Gevo in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Gevo has an average rating of "Hold" and an average price target of $2.55.

Insider Buying and Selling at Gevo

In other Gevo news, CEO Paul D. Bloom sold 31,096 shares of Gevo stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $1.55, for a total value of $48,198.80. Following the transaction, the chief executive officer directly owned 1,452,303 shares in the company, valued at approximately $2,251,069.65. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Oluwagbemileke Agiri sold 18,223 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $1.54, for a total transaction of $28,063.42. Following the completion of the sale, the chief financial officer directly owned 472,893 shares of the company's stock, valued at $728,255.22. The trade was a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 313,286 shares of company stock worth $476,443 in the last quarter. 7.09% of the stock is currently owned by company insiders.

Gevo Profile

Gevo, Inc is a renewable fuels and chemicals company focused on producing low-carbon alternatives to petroleum-based products. The company develops technologies that convert renewable raw materials, including carbohydrates and other bio-based feedstocks, into hydrocarbons and alcohols for use in transportation fuels, chemicals and materials.

Gevo's product and technology portfolio has included renewable isobutanol, ethanol, sustainable aviation fuel and other renewable hydrocarbons. The company also develops renewable natural gas and related solutions, as well as technologies intended to reduce greenhouse-gas emissions across the fuel and chemical supply chain.

Want to see what other hedge funds are holding GEVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gevo, Inc. (NASDAQ:GEVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.