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)'s share price was down 7.3% during 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 Up 0.8%

The firm has a market cap of $136.55 million, a P/E ratio of -7.48 and a beta of -0.47. The business has a fifty day moving average of $2.96 and a 200 day moving average of $3.29.

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

Institutional Investors Weigh In On Verde Clean Fuels

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning acquired a new position in Verde Clean Fuels during the second quarter valued at approximately $34,000. Geode Capital Management LLC grew its stake in shares of Verde Clean Fuels by 12.3% in the second quarter. Geode Capital Management LLC now owns 94,441 shares of the company's stock worth $325,000 after purchasing an additional 10,335 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Verde Clean Fuels by 37.5% in the fourth quarter. Northern Trust Corp now owns 69,522 shares of the company's stock worth $283,000 after purchasing an additional 18,975 shares during the last quarter. 15.61% of the stock is currently owned by institutional investors and hedge funds.

Verde Clean Fuels Company Profile

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.