SSgA Funds Management, Inc. recently announced the acquisition of new stake in Gevo Inc (NASDAQ:GEVO). The institutional investor has increased its shareholding in the Basic Materials company by 15.64% to 13.68 million shares with purchase of 1.85 million shares. This fresh investment now brings its stake to 5.69% valued currently at $15.46 million. In addition, Geode Capital Management LLC raised its holdings by 0.25 million to 4.84 million shares. And D. E. Shaw & Co. LP has lifted its position by 0.43% or 14289.0 shares – to 3.34 million shares.
With over 5.69 million Gevo Inc (GEVO) shares trading Tuesday and a closing price of $1.07 on the day, the dollar volume was approximately $6.09 million. The shares have shown a negative half year performance of -35.93% and its price on 01/09/24 lost nearly -4.46%. Currently, there are 237.17M common shares owned by the public and among those 230.84M shares have been available to trade.
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The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $1.36. The average price target is 74.58% above its recent price level and an upside to the estimated low will see the stock gain 21.32% over that period. But an upside of 92.36% will see the stock hit the forecast high price target while median target price for the stock is $2.00.
Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 2,375,029 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 838,968 shares.
The top 3 mutual fund holders in Gevo Inc are SPDR S&P Oil & Gas Exploration &, iShares Russell 2000 ETF, and Vanguard Total Stock Market ETF. SPDR S&P Oil & Gas Exploration & owns 10.26 million shares of the company’s stock, all valued at over $11.59 million. iShares Russell 2000 ETF bought 3456.0 shares to see its total holdings expand to 7.03 million shares valued at over $7.94 million and representing 2.92% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 2.86% of the shares outstanding.
However, the script later moved the day high at 1.1150, down -4.46%. The company’s stock has a 5-day price change of -8.55% and 5.94% over the past three months. GEVO shares are trading -7.76% year to date (YTD), with the 12-month market performance down to -43.68% lower. It has a 12-month low price of $0.97 and touched a high of $2.30 over the same period. GEVO has an average intraday trading volume of 4.86 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.12%, -8.09%, and -18.23% respectively.
Institutional ownership of Gevo Inc (NASDAQ: GEVO) shares accounts for 41.32% of the company’s 237.17M shares outstanding. Mutual fund holders own 26.03%, while other institutional holders and individual stakeholders account for 4.50% and 16.23% respectively.
It has a market capitalization of $257.13M and a beta (3y monthly) value of 2.91. The earnings-per-share (ttm) stands at -$0.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.46% over the week and 6.20% over the month.
Analysts forecast that Gevo Inc (GEVO) will achieve an EPS of -$0.06 for the current quarter, -$0.06 for the next quarter and -$0.29 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 22.56%, and -13.08% over the next financial year. EPS should shrink at an annualized rate of 25.00% over the next five years, compared to 57.03% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Gevo Inc (GEVO) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 3 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GEVO, a number of firms have released research notes about the stock. Northland Capital stated their Market Perform rating for the stock in a research note on August 21, 2023, with the firm’s price target at $2.
