Gevo, Inc. $GEVO Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its stake in Gevo, Inc. (NASDAQ:GEVO) by 166.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,186,704 shares of the energy company’s stock after purchasing an additional 1,364,924 shares during the period. Bank of America Corp DE’s holdings in Gevo were worth $5,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEVO. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Gevo during the 1st quarter worth about $28,000. Franklin Resources Inc. acquired a new stake in Gevo in the 4th quarter valued at about $28,000. Mackenzie Financial Corp purchased a new position in shares of Gevo in the 3rd quarter valued at about $29,000. Cibc World Markets Corp purchased a new position in shares of Gevo in the 4th quarter valued at about $31,000. Finally, Sigma Planning Corp acquired a new position in shares of Gevo during the first quarter worth about $46,000. 35.17% of the stock is owned by institutional investors and hedge funds.

Gevo Trading Down 2.4%

GEVO opened at $1.65 on Thursday. The firm has a market cap of $407.95 million, a price-to-earnings ratio of -1.85 and a beta of 1.04. Gevo, Inc. has a 52 week low of $1.37 and a 52 week high of $2.97. The business’s 50 day moving average is $1.54 and its two-hundred day moving average is $1.79. The company has a quick ratio of 2.19, a current ratio of 2.70 and a debt-to-equity ratio of 0.61.

Gevo (NASDAQ:GEVO) last posted its quarterly earnings data on Thursday, August 6th. The energy company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $46.50 million during the quarter, compared to the consensus estimate of $46.40 million. Gevo had a negative return on equity of 6.50% and a negative net margin of 119.93%. On average, research analysts predict that Gevo, Inc. will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

GEVO has been the topic of a number of recent research reports. Northland Securities set a $3.75 target price on shares of Gevo in a research note on Thursday, July 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gevo in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Gevo from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. UBS Group reissued a “neutral” rating and issued a $2.00 price objective (down from $2.25) on shares of Gevo in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of Gevo from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.55.

Insider Transactions at Gevo

In other Gevo news, Director Patrick R. Gruber sold 247,642 shares of Gevo stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $1.51, for a total value of $373,939.42. Following the transaction, the director directly owned 3,323,788 shares in the company, valued at approximately $5,018,919.88. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Oluwagbemileke Yusuf Agiri sold 18,223 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $1.54, for a total transaction of $28,063.42. Following the completion of the sale, the chief financial officer directly owned 472,893 shares of the company’s stock, valued at $728,255.22. The trade was a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 627,400 shares of company stock worth $917,343 over the last 90 days. Company insiders own 7.09% of the company’s stock.

Gevo Company 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.