Verde Clean Fuels (NASDAQ:VGAS) Shares Down 3.1% - Here's What Happened

Key Points

• Verde Clean Fuels shares fell by 3.1% to $2.77 during mid-day trading, with a significant decrease in trading volume of 83% from the average.
• The company's market capitalization stands at $123.40 million, alongside a PE ratio of -5.77 and a beta of -0.47.
• JPMorgan Chase & Co. increased its stake in Verde Clean Fuels by 107.6%, now holding 12,492 shares valued at approximately $51,000.

Verde Clean Fuels, Inc. (NASDAQ:VGAS - Get Free Report) shares traded down 3.1% during mid-day trading on Wednesday . The stock traded as low as $2.77 and last traded at $2.77. 3,331 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 20,060 shares. The stock had previously closed at $2.86.

Verde Clean Fuels Trading Down 4.5%

The company has a 50 day moving average of $3.29 and a 200-day moving average of $3.50. The firm has a market capitalization of $116.94 million, a P/E ratio of -5.47 and a beta of -0.47.

Verde Clean Fuels (NASDAQ:VGAS - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter.

Institutional Trading of Verde Clean Fuels

A number of institutional investors have recently modified their holdings of the stock. Creative Planning bought a new position in Verde Clean Fuels in the second quarter valued at about $34,000. JPMorgan Chase & Co. raised its position in Verde Clean Fuels by 107.6% in the fourth quarter. JPMorgan Chase & Co. now owns 12,492 shares of the company's stock valued at $51,000 after purchasing an additional 6,476 shares during the last quarter. Northern Trust Corp raised its position in Verde Clean Fuels by 37.5% in the fourth quarter. Northern Trust Corp now owns 69,522 shares of the company's stock valued at $283,000 after purchasing an additional 18,975 shares during the last quarter. Finally, Geode Capital Management LLC raised 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. 15.61% of the stock is currently owned by institutional investors.

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.