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 $15.87 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.
Currently, there are 237.17M common shares owned by the public and among those 230.96M shares have been available to trade.
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Insiders at the company have transacted a total of 33 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 20 occasions, with total insider shares sold totaling 863,946 shares.
The top 3 mutual fund holders in Gevo Inc are iShares Russell 2000 ETF, Vanguard Total Stock Market ETF, and Invesco WilderHill Clean Energy E. iShares Russell 2000 ETF owns 7.13 million shares of the company’s stock, all valued at over $8.28 million. The company sold 18882.0 shares recently to bring their total holdings to about 2.97% of the shares outstanding. Invesco WilderHill Clean Energy E now owns shares totaling to 2.11% of the shares outstanding.
The company’s stock has a 5-day price change of -15.53% and -20.91% over the past three months. GEVO shares are trading -25.00% year to date (YTD), with the 12-month market performance down to -56.93% lower. It has a 12-month low price of $0.81 and touched a high of $2.30 over the same period. GEVO has an average intraday trading volume of 5.31 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 -21.16%, -23.83%, and -32.47% respectively.
Institutional ownership of Gevo Inc (NASDAQ: GEVO) shares accounts for 41.35% of the company’s 237.17M shares outstanding. Mutual fund holders own 21.25%, while other institutional holders and individual stakeholders account for 4.50% and 21.06% respectively.
It has a market capitalization of $209.24M and a beta (3y monthly) value of 2.93. 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 11.97% over the week and 6.42% 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.
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.
