Verde Clean Fuels (NASDAQ:VGAS) Stock Price Down 7.3% - Time to Sell?

Key Points

• Verde Clean Fuels (NASDAQ:VGAS) shares experienced a drop of 7.3%, trading between $3.03 and $3.04, with a significant increase in volume during trading hours.
• The company's earnings per share for the last quarter reported a loss of ($0.07), reflecting ongoing financial challenges.
• Institutional investors hold 15.61% of Verde Clean Fuels, with notable recent activity, including Geode Capital Management increasing its stake by 12.3%.

Verde Clean Fuels, Inc. (NASDAQ:VGAS - Get Free Report) shares dropped 7.3% during mid-day trading on Friday . The company traded as low as $3.03 and last traded at $3.04. Approximately 26,247 shares changed hands during trading, an increase of 337% from the average daily volume of 6,003 shares. The stock had previously closed at $3.28.

Verde Clean Fuels Stock Performance

The stock has a 50-day moving average price of $2.97 and a 200-day moving average price of $3.30. The stock has a market cap of $135.43 million, a P/E ratio of -7.41 and a beta of -0.47.

Verde Clean Fuels (NASDAQ:VGAS - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($0.07) earnings per share for the quarter.

Institutional Trading of Verde Clean Fuels

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Verde Clean Fuels by 12.3% in the second quarter. Geode Capital Management LLC now owns 94,441 shares of the company's stock valued at $325,000 after purchasing an additional 10,335 shares during the last quarter. Northern Trust Corp increased its stake in shares of Verde Clean Fuels by 37.5% during the fourth quarter. Northern Trust Corp now owns 69,522 shares of the company's stock valued at $283,000 after buying an additional 18,975 shares during the period. Finally, Creative Planning purchased a new stake in Verde Clean Fuels in the second quarter worth $34,000. Institutional investors own 15.61% of the company's stock.

About Verde Clean Fuels

Verde Clean Fuels, Inc, operates as a clean energy technology company in the United States. It specializes in the conversion of synthesis gas, or syngas, derived from feedstocks, such as biomass, natural gas, and other feedstocks into liquid hydrocarbons that can be used as gasoline through proprietary liquid fuels technology.

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