Verde Clean Fuels (NASDAQ:VGAS) Shares Down 0.3% – Should You Sell?

Shares of Verde Clean Fuels, Inc. (NASDAQ:VGAS) dropped 0.3% during mid-day trading on Tuesday . The company traded as low as $3.50 and last traded at $3.50. Approximately 4,444 shares traded hands during trading, a decline of 68% from the average daily volume of 14,071 shares. The stock had previously closed at $3.51.

Verde Clean Fuels Stock Performance

The firm has a market capitalization of $112.18 million, a price-to-earnings ratio of -7.00 and a beta of -0.65. The firm has a fifty day moving average price of $3.85 and a 200 day moving average price of $3.97.

Institutional Investors Weigh In On Verde Clean Fuels

A number of hedge funds and other institutional investors have recently bought and sold shares of VGAS. Geode Capital Management LLC increased its holdings in shares of Verde Clean Fuels by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 77,807 shares of the company’s stock valued at $310,000 after purchasing an additional 6,191 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in Verde Clean Fuels during the fourth quarter worth about $62,000. JPMorgan Chase & Co. grew its position in Verde Clean Fuels by 107.6% during the fourth quarter. JPMorgan Chase & Co. now owns 12,492 shares of the company’s stock worth $51,000 after buying an additional 6,476 shares during the period. Finally, Northern Trust Corp increased its holdings in Verde Clean Fuels by 37.5% in the fourth quarter. Northern Trust Corp now owns 69,522 shares of the company’s stock valued at $283,000 after buying an additional 18,975 shares in the last quarter. Institutional investors and hedge funds own 15.61% of the company’s stock.

About Verde Clean Fuels

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.