Victory Capital Management Inc. increased its stake in shares of Gevo, Inc. (NASDAQ:GEVO) by 65.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,860 shares of the energy company’s stock after acquiring an additional 41,534 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Gevo worth $696,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Gevo by 44.3% in the second quarter. State Street Corp now owns 16,374,530 shares of the energy company’s stock valued at $119,043,000 after buying an additional 5,026,848 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Gevo by 297.1% in the second quarter. BlackRock Inc. now owns 13,894,040 shares of the energy company’s stock valued at $101,011,000 after buying an additional 10,394,911 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Gevo by 12.7% in the second quarter. Vanguard Group Inc. now owns 9,453,910 shares of the energy company’s stock valued at $68,730,000 after buying an additional 1,067,696 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Gevo by 103.7% in the second quarter. Geode Capital Management LLC now owns 3,132,462 shares of the energy company’s stock valued at $22,772,000 after buying an additional 1,594,513 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Gevo by 437.0% in the second quarter. Northern Trust Corp now owns 1,907,334 shares of the energy company’s stock valued at $13,866,000 after purchasing an additional 1,552,126 shares during the last quarter. 34.53% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ GEVO opened at $4.10 on Friday. Gevo, Inc. has a 52-week low of $3.92 and a 52-week high of $15.57. The company has a 50-day simple moving average of $5.40 and a 200 day simple moving average of $6.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.07 and a current ratio of 13.15. The company has a market capitalization of $827.64 million, a PE ratio of -11.39 and a beta of 3.11.
Separately, Zacks Investment Research upgraded shares of Gevo from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a report on Wednesday, January 5th.
Gevo, Inc is a renewable chemicals and next generation biofuels company, which focuses on the development and commercialization of renewable alternatives to petroleum-based products. It operates through the following segments: Gevo; Gevo Development and Agri-Energy. The Gevo segment focuses in the research and development activities related to the future production of isobutanol, including the development of the firm’s proprietary biocatalysts, the production and sale of renewable jet and other fuels, the retrofit process, and the next generation of chemicals and biofuels that will be based on the company’s isobutanol technology.
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