Gevo (NASDAQ:GEVO) Sees Strong Trading Volume
Shares of Gevo Inc (NASDAQ:GEVO) saw unusually-high trading volume on Wednesday . Approximately 911,263 shares were traded during mid-day trading, an increase of 104% from the previous session’s volume of 447,108 shares.The stock last traded at $2.53 and had previously closed at $2.51.
GEVO has been the subject of several research reports. ValuEngine upgraded shares of Gevo from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Gevo from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.
The firm has a 50-day moving average price of $2.35. The firm has a market capitalization of $29.86 million, a PE ratio of -0.48 and a beta of 2.70.
A hedge fund recently bought a new stake in Gevo stock. Wedbush Securities Inc. bought a new position in Gevo Inc (NASDAQ:GEVO) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 30,500 shares of the energy company’s stock, valued at approximately $67,000. Wedbush Securities Inc. owned 0.26% of Gevo at the end of the most recent reporting period. Institutional investors own 7.77% of the company’s stock.
About Gevo (NASDAQ:GEVO)
Gevo, Inc is a renewable chemicals and next generation biofuels company, which focuses on the development and commercialization of renewable alternatives to petroleum-based products. It operates through the following segments: Gevo; Gevo Development and Agri-Energy. The Gevo segment focuses in the research and development activities related to the future production of isobutanol, including the development of the firm’s proprietary biocatalysts, the production and sale of renewable jet and other fuels, the retrofit process, and the next generation of chemicals and biofuels that will be based on the company’s isobutanol technology.
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