Gevo, Inc. GEVO shares are up Tuesday after the company announced a $25 million stock repurchase program.
What To Know: The stock repurchase program aims to allow Gevo to opportunistically repurchase shares, while maintaining the company's ability to fund its development projects.
"This stock repurchase program demonstrates the confidence that the Board, management, and I have in the future of Gevo in light of what we believe to be the considerably undervalued price of our common stock," said Patrick Gruber, Gevo's CEO.
"Gevo is a company that is on a strategic path that we believe will produce sustained profitability and growth in the future. We see this stock repurchase program as a tool that could further enhance the value of our Company in the years ahead."
Gevo is focused on transforming renewable energy and carbon into energy-dense liquid hydrocarbons.
Related Link: Why Smart For Life Stock Is Down Today
GEVO Price Action: Shares of GEVO were up 20.6% at $1.34 at the time of publication, according to Benzinga Pro.
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