Bank of America Corp DE Increases Stake in Gevo, Inc. (NASDAQ:GEVO)

Bank of America Corp DE increased its holdings in Gevo, Inc. (NASDAQ:GEVO - Free Report) by 160.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 360,559 shares of the energy company's stock after buying an additional 222,237 shares during the period. Bank of America Corp DE owned 0.15% of Gevo worth $754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GEVO. Invesco Ltd. lifted its position in shares of Gevo by 441.0% during the fourth quarter. Invesco Ltd. now owns 4,289,949 shares of the energy company's stock worth $8,966,000 after acquiring an additional 3,497,007 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Gevo during the 4th quarter valued at $904,000. Marshall Wace LLP purchased a new stake in Gevo during the 4th quarter worth about $812,000. Schonfeld Strategic Advisors LLC bought a new position in Gevo in the 4th quarter worth about $562,000. Finally, Geode Capital Management LLC boosted its stake in Gevo by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 2,690,430 shares of the energy company's stock worth $5,626,000 after purchasing an additional 234,727 shares during the period. 35.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GEVO. UBS Group decreased their price target on Gevo from $3.25 to $1.15 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. HC Wainwright reaffirmed a "buy" rating and set a $14.00 target price on shares of Gevo in a report on Friday, May 30th.

Insider Transactions at Gevo

In other Gevo news, insider Kimberly T. Bowron sold 23,994 shares of Gevo stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $1.28, for a total transaction of $30,712.32. Following the completion of the sale, the insider now owns 391,274 shares of the company's stock, valued at $500,830.72. The trade was a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP L Lynn Smull sold 60,331 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $1.28, for a total value of $77,223.68. Following the transaction, the executive vice president now owns 1,109,271 shares in the company, valued at $1,419,866.88. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 470,257 shares of company stock valued at $598,553 in the last quarter. Insiders own 6.80% of the company's stock.

Gevo Price Performance

Shares of GEVO stock traded down $0.01 on Thursday, reaching $1.23. The company's stock had a trading volume of 3,147,632 shares, compared to its average volume of 5,424,593. The company has a market capitalization of $294.66 million, a P/E ratio of -3.62 and a beta of 2.53. Gevo, Inc. has a 12-month low of $0.48 and a 12-month high of $3.39. The stock's 50 day simple moving average is $1.14 and its 200-day simple moving average is $1.48. The company has a quick ratio of 8.05, a current ratio of 8.25 and a debt-to-equity ratio of 0.13.

Gevo (NASDAQ:GEVO - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The energy company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. Gevo had a negative return on equity of 14.95% and a negative net margin of 510.04%. The firm had revenue of $29.11 million for the quarter, compared to analysts' expectations of $22.19 million. As a group, equities analysts predict that Gevo, Inc. will post -0.42 earnings per share for the current fiscal year.

Gevo Company Profile

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.