Gevo Inc. (NASDAQ:GEVO) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 6,182,892 shares, a drop of 20.7% from the August 31st total of 7,792,287 shares. Based on an average daily volume of 12,646,009 shares, the days-to-cover ratio is currently 0.5 days. Approximately 7.0% of the company’s shares are short sold.
A hedge fund recently raised its stake in Gevo stock. State Treasurer State of Michigan increased its position in shares of Gevo Inc. (NASDAQ:GEVO) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 836,448 shares of the company’s stock after buying an additional 68,301 shares during the period. State Treasurer State of Michigan owned approximately 3.63% of Gevo worth $494,000 at the end of the most recent quarter. Institutional investors own 3.50% of the company’s stock.
Gevo (NASDAQ:GEVO) opened at 0.482 on Friday. Gevo has a 52-week low of $0.22 and a 52-week high of $2.24. The stock’s 50 day moving average price is $0.52 and its 200 day moving average price is $0.45. The firm’s market capitalization is $23.66 million.
Gevo (NASDAQ:GEVO) last released its earnings results on Tuesday, August 9th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.12. The firm earned $8.11 million during the quarter, compared to the consensus estimate of $8.90 million. Gevo had a negative return on equity of 67.50% and a negative net margin of 133.03%. On average, equities analysts anticipate that Gevo will post ($0.72) earnings per share for the current fiscal year.
Separately, Zacks Investment Research lowered Gevo from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th.
Gevo, Inc (Gevo) is a renewable chemicals and next generation biofuels company. The Company has developed a technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstock.
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