Verde Clean Fuels (NASDAQ:VGAS) Shares Down 7.1% – Time to Sell?

Verde Clean Fuels, Inc. (NASDAQ:VGAS)’s share price traded down 7.1% during mid-day trading on Monday . The stock traded as low as $1.82 and last traded at $1.82. 23,293 shares traded hands during trading, a decline of 36% from the average session volume of 36,661 shares. The stock had previously closed at $1.96.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Verde Clean Fuels in a report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Verde Clean Fuels currently has a consensus rating of “Sell”.

Verde Clean Fuels Stock Down 7.4%

The firm has a market capitalization of $78.41 million, a PE ratio of -4.63 and a beta of -0.43. The company’s 50-day simple moving average is $1.56 and its 200 day simple moving average is $2.23.

Verde Clean Fuels (NASDAQ:VGAS) last released its quarterly earnings results on Friday, March 27th. The company reported ($0.17) EPS for the quarter.

Hedge Funds Weigh In On Verde Clean Fuels

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