Verde Clean Fuels (NASDAQ:VGAS) Shares Down 3.1% – Time to Sell?

Verde Clean Fuels, Inc. (NASDAQ:VGAS) shares dropped 3.1% during mid-day trading on Friday . The company traded as low as $2.46 and last traded at $2.47. Approximately 12,142 shares were traded during trading, a decline of 8% from the average daily volume of 13,245 shares. The stock had previously closed at $2.55.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Verde Clean Fuels in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Verde Clean Fuels Stock Performance

The stock has a market capitalization of $110.04 million, a PE ratio of -7.06 and a beta of -0.41. The business’s 50-day moving average price is $2.47 and its 200 day moving average price is $2.86.

Verde Clean Fuels (NASDAQ:VGAS) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.06) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Verde Clean Fuels stock. Geode Capital Management LLC increased its stake in Verde Clean Fuels, Inc. (NASDAQ:VGAS) by 12.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,441 shares of the company’s stock after purchasing an additional 10,335 shares during the period. Geode Capital Management LLC owned approximately 0.21% of Verde Clean Fuels worth $325,000 as of its most recent SEC filing. Institutional investors and hedge funds own 15.61% of the company’s stock.

Verde Clean Fuels Company Profile

Verde Clean Fuels, Inc, operates as a clean energy technology company in the United States. It specializes in the conversion of synthesis gas, or syngas, derived from feedstocks, such as biomass, natural gas, and other feedstocks into liquid hydrocarbons that can be used as gasoline through proprietary liquid fuels technology. Verde Clean Fuels, Inc was founded in 2007 and is headquartered in Houston, Texas.