Short Interest in Gevo, Inc. (NASDAQ:GEVO) Expands By 9.9%

Gevo, Inc. (NASDAQ:GEVOGet Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 31,740,000 shares, a growth of 9.9% from the February 29th total of 28,890,000 shares. Based on an average trading volume of 6,240,000 shares, the days-to-cover ratio is presently 5.1 days.

Hedge Funds Weigh In On Gevo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Gevo by 48.2% during the second quarter. State Street Corp now owns 35,309,857 shares of the energy company’s stock worth $82,978,000 after buying an additional 11,479,096 shares during the last quarter. BlackRock Inc. raised its position in shares of Gevo by 7.4% during the second quarter. BlackRock Inc. now owns 28,787,567 shares of the energy company’s stock worth $43,757,000 after purchasing an additional 1,994,123 shares during the period. Vanguard Group Inc. raised its position in shares of Gevo by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 13,395,378 shares of the energy company’s stock worth $15,539,000 after purchasing an additional 350,315 shares during the period. Geode Capital Management LLC raised its position in shares of Gevo by 10.5% during the second quarter. Geode Capital Management LLC now owns 4,591,229 shares of the energy company’s stock worth $6,979,000 after purchasing an additional 437,006 shares during the period. Finally, Millennium Management LLC raised its position in shares of Gevo by 5,722.1% during the fourth quarter. Millennium Management LLC now owns 3,405,121 shares of the energy company’s stock worth $6,470,000 after purchasing an additional 3,346,635 shares during the period. Institutional investors own 35.17% of the company’s stock.

Gevo Stock Performance

Shares of GEVO stock opened at $0.69 on Wednesday. The stock’s fifty day moving average is $0.82 and its 200-day moving average is $1.02. Gevo has a 52 week low of $0.60 and a 52 week high of $1.86.

Gevo (NASDAQ:GEVOGet Free Report) last announced its earnings results on Thursday, March 7th. The energy company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $4.37 million for the quarter, compared to the consensus estimate of $4.26 million. Gevo had a negative return on equity of 11.49% and a negative net margin of 384.97%. During the same quarter in the previous year, the company posted ($0.11) EPS. As a group, analysts predict that Gevo will post -0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price objective on Gevo from $1.50 to $1.36 and set a “neutral” rating for the company in a research note on Wednesday, December 13th.

Read Our Latest Analysis on GEVO

About Gevo

(Get Free Report)

Gevo, Inc operates as a carbon abatement company. It operates through three segments: Gevo, Agri-Energy, and Renewable Natural Gas. The company focuses on transforming renewable energy into energy-dense liquid hydrocarbons that can be used as renewable fuels. It offers renewable gasoline and diesel, isobutanol, sustainable aviation fuel, renewable natural gas, isobutylene, ethanol, and animal feed and protein.

Further Reading

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