As of May 24, 2023, Citigroup Inc. has announced a 9.6% growth in its stake in shares of Gevo, Inc. (NASDAQ:GEVO) during the fourth quarter. Reports indicate that the institutional investor purchased an additional 125,546 shares of the energy company’s stock and now owns 1,429,093 shares. With Citigroup Inc.’s ownership equating to approximately 0.60% of Gevo’s total worth, analysts are keen to see how other hedge funds may manage their holdings.
Investors were curious as the value of GEVO’s shares opened at $1.24 on Wednesday while maintaining a low market capitalization rate of $294.19 million and beta of 3.04 despite its recent technological innovations in renewable energy products.
Furthermore, Gevo saw a boost in this year’s performance with a quick ratio of 14.95 and current ratio of 15.12 – an impressive feat for any organization aiming to fuel long-term growth potential through efficient management and strong liquidity positions.
Gevo’s outlook for the future is particularly bright as it aims to continue investing in sustainable technology and innovation in renewable energy products such as biofuels and green chemicals with exclusive deals from leading Fortune Global 500 companies such as Toyota and Delta Air Lines Inc.
As Gevo continues to innovate in the renewable energy sector by focusing on creating cleaner alternatives to traditional fossil fuels, it is reassuring for investors to note that large institutions like Citigroup Inc. are increasing their investments in the company during these dynamic times for environmentally-conscious industries.
To learn further about developments within Gevo latest filings and insider trades check out HoldingsChannel.com.
Institutional Investors Increase Holdings in Renewable Chemical Company Gevo, Inc.
Gevo, Inc., a leading renewable chemicals and next-generation biofuels company, has recently witnessed significant changes to its stock positions among hedge funds and institutional investors. A number of large investment groups have recently increased their holdings in the company’s stock.
The State Street Corp raised its holdings by 48.2% in the 2nd quarter and now owns 35,309,857 shares worth $82,978,000. Vanguard Group Inc. also increased its position by 13.1% to own 12,458,518 shares worth $28,406,000 as of the third quarter. Two Sigma Investments LP saw an even larger increase of 1,276.8%, now owning 3,854,576 shares worth $8,788,000. Millennium Management LLC similarly gained a massive position by increasing their ownership by 1,360.0%, owning 3.114 million shares worth $7,318 million.
Finally, Grantham Mayo Van Otterloo & Co., LLC also reported an increase in Gevo shares by 2.7%. Currently over 45% of Gevo’s stocks are owned by institutional investors.
Regarding future performance expectations for Gevo,Based on the company’s March earnings report,it projected a net EPS loss for this current fiscal year -0.29 ,this growth phase renewable biofuel should be positive for the long-term outlook given growing concerns about climate change mitigation strategies.This has been reflected in some investment analysts reducing their target price on General Electric from $4.30 to $3 in recent portfolio updates shared through online platforms like HoldingsChannel.com.
Gevo primarily focuses on developing and commercializing renewable alternatives for petroleum-based products such as isobutanol production research and development activities including proprietary biocatalysts development,sale of renewables fuels,optimal retrofitting process,and researching new chemicals and biofuels that will be based on innovative isobutanol technology. Gevo segments into Gevo and Gevo Development and Agri-Energy in its portfolio.