Gevo (NASDAQ:GEVO) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Gevo's share price recently crossed above its 200-day moving average, reaching a high of $1.73 before closing at $1.66 with a trading volume of over 4 million shares.
• Analysts have varied ratings on Gevo, with Zacks upgrading it to a "hold," while HC Wainwright maintained a "buy" rating with a price target set at $14.00.
• Gevo reported positive earnings of $0.01 per share in its latest quarter, exceeding analyst expectations, despite a negative net margin of 72.76%.

Gevo, Inc. (NASDAQ:GEVO - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.33 and traded as high as $1.73. Gevo shares last traded at $1.66, with a volume of 4,216,943 shares trading hands.

Wall Street Analyst Weigh In

GEVO has been the subject of several research reports. Wall Street Zen raised Gevo from a "sell" rating to a "hold" rating in a research report on Saturday. HC Wainwright restated a "buy" rating and issued a $14.00 target price on shares of Gevo in a research note on Friday, May 30th. Finally, Zacks Research upgraded Gevo from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Gevo currently has an average rating of "Hold" and an average price target of $7.58.

Gevo Stock Up 9.8%

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.33 and a quick ratio of 2.10. The firm has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.33. The stock has a market capitalization of $501.82 million, a price-to-earnings ratio of -7.94 and a beta of 2.18.

Gevo (NASDAQ:GEVO - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The energy company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.07. Gevo had a negative return on equity of 12.04% and a negative net margin of 72.76%.The firm had revenue of $43.41 million during the quarter, compared to analyst estimates of $43.69 million. On average, sell-side analysts forecast that Gevo, Inc. will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul D. Bloom sold 42,073 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1.23, for a total value of $51,749.79. Following the transaction, the insider owned 1,000,683 shares in the company, valued at $1,230,840.09. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Oluwagbemileke Yusuf Agiri sold 57,651 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $1.63, for a total value of $93,971.13. Following the completion of the transaction, the chief financial officer owned 277,835 shares in the company, valued at approximately $452,871.05. This represents a 17.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 681,885 shares of company stock valued at $915,584 in the last 90 days. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gevo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in Gevo during the second quarter worth about $26,000. BNP Paribas Financial Markets lifted its holdings in shares of Gevo by 138.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 20,927 shares of the energy company's stock valued at $28,000 after purchasing an additional 12,136 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Gevo during the 2nd quarter valued at about $28,000. Engineers Gate Manager LP bought a new position in shares of Gevo during the 2nd quarter valued at about $30,000. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Gevo during the 2nd quarter valued at about $31,000. Institutional investors own 35.17% of the company's stock.

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.