Gevo (NASDAQ:GEVO) Issues Earnings Results, Misses Expectations By $0.01 EPS

Gevo (NASDAQ:GEVO) released its quarterly earnings results on Monday. The energy company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01), reports. The company had revenue of $4.53 million during the quarter, compared to the consensus estimate of $4.60 million. Gevo had a negative net margin of 546.89% and a negative return on equity of 12.31%.

Gevo Price Performance

Shares of Gevo stock opened at $1.25 on Thursday. Gevo has a 1 year low of $0.97 and a 1 year high of $2.42. The company has a 50-day moving average of $1.17 and a 200 day moving average of $1.34. The firm has a market cap of $296.75 million, a price-to-earnings ratio of -4.03 and a beta of 3.09.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GEVO shares. Northland Securities started coverage on shares of Gevo in a research note on Monday, August 21st. They set a “market perform” rating and a $2.00 target price on the stock. HC Wainwright cut their price objective on Gevo from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Finally, Stifel Nicolaus upped their target price on Gevo from $3.00 to $3.40 and gave the stock a “buy” rating in a report on Tuesday, August 22nd.

Insider Buying and Selling

In other Gevo news, CEO Patrick R. Gruber sold 171,549 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $1.38, for a total transaction of $236,737.62. Following the completion of the transaction, the chief executive officer now owns 2,963,646 shares of the company’s stock, valued at $4,089,831.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Christopher Michael Ryan sold 83,902 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $1.38, for a total value of $115,784.76. Following the transaction, the chief operating officer now owns 1,194,377 shares in the company, valued at approximately $1,648,240.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Patrick R. Gruber sold 171,549 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $1.38, for a total transaction of $236,737.62. Following the sale, the chief executive officer now owns 2,963,646 shares of the company’s stock, valued at $4,089,831.48. The disclosure for this sale can be found here. Insiders have sold 360,036 shares of company stock valued at $496,850 over the last quarter. Corporate insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versor Investments LP increased its position in shares of Gevo by 110.4% during the second quarter. Versor Investments LP now owns 77,200 shares of the energy company’s stock valued at $117,000 after acquiring an additional 40,500 shares in the last quarter. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Gevo in the 1st quarter worth $43,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Gevo by 53.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 445,586 shares of the energy company’s stock worth $530,000 after purchasing an additional 155,385 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Gevo by 4.9% during the third quarter. Rafferty Asset Management LLC now owns 760,597 shares of the energy company’s stock valued at $905,000 after purchasing an additional 35,497 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Gevo by 8.7% during the second quarter. Baird Financial Group Inc. now owns 1,639,501 shares of the energy company’s stock valued at $2,492,000 after buying an additional 131,678 shares during the last quarter. Institutional investors own 39.26% of the company’s stock.

About Gevo

Gevo, Inc operates as a renewable fuels company. It operates through three segments: Gevo, Agri-Energy, and Renewable Natural Gas. The company offers renewable gasoline and diesel, isooctane, isobutanol, sustainable aviation fuel, renewable natural gas, isobutylene, ethanol, and animal feed and protein.