ENGLEWOOD, CO – Gevo , Inc. (NASDAQ:GEVO) disclosed in a recent filing that Chief People Officer, Kimberly T. Bowron, sold shares in the company. The transaction involved a sale of 10,598 shares of common stock at an average price of $0.5897, totaling approximately $6,249.
The sale was conducted on July 31, 2024, and was part of a prearranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. The shares were sold in multiple transactions at prices ranging from $0.5800 to $0.5995 per share.
Following the sale, Bowron's direct holdings in the company amounted to 435,223 shares. Additionally, indirect holdings through a 401(k) plan totaled 17,067.43 shares of Gevo's common stock.
Investors and shareholders may request detailed information about the exact number of shares sold at each price within the range from Gevo upon request. The transaction was executed to cover tax withholding obligations that arose upon the vesting of a restricted stock award.
Gevo, Inc., headquartered in Englewood, Colorado, operates within the industrial organic chemicals sector and is known for its work in industrial applications and services.
In other recent news, Gevo, Inc. has been facing multiple developments. The company's biofuel sector, which primarily produces ethanol, is unlikely to benefit from the new sustainable aviation fuel (SAF) subsidies due to stringent climate requirements. This has raised concerns as the majority of U.S. corn farms, the primary source for ethanol, do not employ the necessary climate-friendly practices, limiting the amount of ethanol that can qualify for the subsidies.
In a recent earnings call, Gevo reported $4 million in revenue from renewable natural gas (RNG) sales and $7.9 million in general and administrative expenses. The company has also revised the expected spend on its Net-Zero 1 project to $90 million to $125 million and repurchased 5.5 million shares of common stock for $3.7 million.
Furthermore, Gevo, in partnership with its subsidiary Verity Holdings and ClearFlame Engine Technologies, has announced an initiative to enhance the traceability of decarbonization efforts in the U.S. road freight sector. This collaboration aims to authenticate the carbon intensity of biofuels from their agricultural origins to their use in transportation.
These recent developments reflect Gevo's ongoing efforts to navigate the challenges and opportunities in the renewable energy sector. The company's focus on cost management, strategic investments, and partnerships underscores its commitment to advancing sustainable energy solutions.
InvestingPro Insights
As Gevo, Inc. (NASDAQ:GEVO) navigates the industrial organic chemicals market, the company's financial health and stock performance are of keen interest to investors. A glance at the real-time data from InvestingPro reveals a market capitalization of $129.81 million, reflecting the company's current valuation in the market. Despite a significant revenue growth of 242.39% over the last twelve months as of Q1 2024, Gevo's financials indicate challenges, with a gross profit margin of -83.08% and an operating income margin of -491.06% for the same period.
Two key InvestingPro Tips shed light on the company's current position. Firstly, Gevo is trading at a low Price / Book multiple of 0.25, which could signal that the stock is undervalued relative to its assets. This tip is particularly relevant as it may attract value investors looking for potential opportunities. Secondly, the company holds more cash than debt on its balance sheet, suggesting a degree of financial stability in terms of liquidity. This tip could provide some reassurance to investors concerned about the company's ability to meet its short-term obligations.
Notably, Gevo's stock price movements have been quite volatile, with the price having fallen significantly over the last year, as evidenced by a 1-year price total return of -65.24%. As of the previous close, the stock was trading at $0.58, which is only 33.24% of its 52-week high. For investors seeking more detailed analysis and additional InvestingPro Tips, there are 11 more tips available for Gevo at InvestingPro, including insights into analysts' expectations and the company's profitability outlook.
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