Renaissance Technologies LLC Buys 1,342,400 Shares of Gevo, Inc. $GEVO

Key Points

• Renaissance Technologies increased its Gevo stake by 153.8% in the first quarter, purchasing 1.34 million additional shares and bringing its holdings to 2.22 million shares worth approximately $6.05 million. Institutional investors collectively own 35.17% of Gevo.
• Analyst sentiment remains mixed but leans toward “Hold,” with an average price target of $2.88. Ratings ranged from Buy to Sell, while UBS lowered its target to $2.00 and Wall Street Zen downgraded the stock to “Strong Sell.”
• Gevo reported a quarterly loss of $0.05 per share, missing the $0.02 expected loss, while revenue of $42.95 million also fell short of estimates. The stock opened at $1.55, well below its 52-week high of $2.97.

Renaissance Technologies LLC grew its stake in shares of Gevo, Inc. (NASDAQ:GEVO - Free Report) by 153.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,215,194 shares of the energy company's stock after acquiring an additional 1,342,400 shares during the period. Renaissance Technologies LLC owned 0.91% of Gevo worth $6,047,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Caxton Associates LLP acquired a new position in shares of Gevo in the first quarter valued at approximately $153,000. State of Wyoming boosted its stake in Gevo by 389.6% in the 1st quarter. State of Wyoming now owns 139,543 shares of the energy company's stock valued at $381,000 after purchasing an additional 111,041 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in Gevo in the 1st quarter valued at $49,000. Dimensional Fund Advisors LP grew its holdings in Gevo by 119.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 138,855 shares of the energy company's stock valued at $379,000 after buying an additional 75,519 shares in the last quarter. Finally, Sigma Planning Corp bought a new position in Gevo during the 1st quarter worth $46,000. Institutional investors own 35.17% of the company's stock.

Analyst Upgrades and Downgrades

GEVO has been the subject of a number of research reports. UBS Group reissued a "neutral" rating and set a $2.00 target price (down from $2.25) on shares of Gevo in a report on Friday, May 22nd. Northland Securities set a $3.75 price target on shares of Gevo in a research report on Thursday, July 16th. Wall Street Zen cut shares of Gevo from a "hold" rating to a "strong sell" rating in a research note on Sunday, May 10th. Zacks Research raised shares of Gevo from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Gevo in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $2.88.

Insider Activity

In other Gevo news, COO Christopher Michael Ryan sold 35,196 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $1.43, for a total value of $50,330.28. Following the transaction, the chief operating officer directly owned 1,279,245 shares of the company's stock, valued at $1,829,320.35. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, Director Patrick R. Gruber sold 157,563 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $1.40, for a total transaction of $220,588.20. Following the completion of the transaction, the director owned 3,571,430 shares of the company's stock, valued at $5,000,002. The trade was a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 759,812 shares of company stock valued at $1,225,311. Company insiders own 7.09% of the company's stock.

Gevo Stock Performance

NASDAQ:GEVO opened at $1.55 on Wednesday. The company has a market cap of $377.29 million, a price-to-earnings ratio of -11.92 and a beta of 1.04. Gevo, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $2.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.51 and a current ratio of 4.31. The stock has a fifty day moving average price of $1.55 and a 200-day moving average price of $1.84.

Gevo (NASDAQ:GEVO - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The energy company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The company had revenue of $42.95 million during the quarter, compared to the consensus estimate of $44.90 million. Gevo had a negative return on equity of 5.06% and a negative net margin of 19.38%. As a group, equities analysts anticipate that Gevo, Inc. will post -0.07 EPS for the current fiscal year.

Gevo Company Profile

Gevo, Inc NASDAQ: GEVO is a renewable chemicals and biofuels company that develops and produces low-carbon alternatives to petroleum-based products. The company's core technology platform converts fermentable sugars into isobutanol, which can be further processed into sustainable aviation fuel (SAF), renewable gasoline, diesel, and jet fuel. Gevo's integrated biorefinery model combines fermentation, recovery, and downstream processing to deliver scalable, drop-in replacements for conventional fossil-derived hydrocarbons.

Gevo's primary products include isobutanol, a four-carbon alcohol used as a building block for various fuels and chemicals, and hydrocarbon fuels that meet ASTM specifications for aviation and road transport.

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