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

Renaissance Technologies LLC boosted its holdings in Gevo, Inc. (NASDAQ:GEVO) by 153.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,215,194 shares of the energy company’s stock after buying an additional 1,342,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Gevo were worth $6,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. J. Derek Lewis & Associates Inc. bought a new position in shares of Gevo in the fourth quarter worth about $870,000. BNP Paribas Financial Markets grew 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 during the last quarter. Dimensional Fund Advisors LP increased its position in Gevo by 119.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 138,855 shares of the energy company’s stock worth $379,000 after purchasing an additional 75,519 shares in the last quarter. Caxton Associates LLP acquired a new position in Gevo during the 1st quarter worth approximately $153,000. Finally, State of Wyoming lifted 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 last quarter. Institutional investors own 35.17% of the company’s stock.

Gevo Stock Performance

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

Gevo (NASDAQ:GEVO) last announced its earnings results on Thursday, May 7th. The energy company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Gevo had a negative return on equity of 5.06% and a negative net margin of 19.38%.The company had revenue of $42.95 million for the quarter, compared to analyst estimates of $44.90 million. Sell-side analysts expect that Gevo, Inc. will post -0.07 EPS for the current year.

Insider Activity at Gevo

In related news, Director Patrick R. Gruber sold 186,469 shares of Gevo stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $1.76, for a total value of $328,185.44. Following the transaction, the director directly owned 3,728,993 shares of the company’s stock, valued at $6,563,027.68. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, insider Andrew Shafer sold 32,667 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1.76, for a total value of $57,493.92. Following the completion of the sale, the insider owned 321,051 shares in the company, valued at $565,049.76. The trade was a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 759,812 shares of company stock valued at $1,225,311 over the last ninety days. Insiders own 7.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEVO. UBS Group reaffirmed a “neutral” rating and set a $2.00 target price (down from $2.25) on shares of Gevo in a research note on Friday, May 22nd. Zacks Research upgraded Gevo from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gevo in a report on Friday, July 17th. Northland Securities set a $3.75 price target on Gevo in a research note on Thursday, July 16th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Gevo in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.88.

Gevo 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.