Gevo (GEVO) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Gevo, Inc. is a renewable chemicals and advanced biofuels company engaged in the development of biobased alternatives to petroleum-based products using a combination of synthetic biology and chemistry. The Company is focused on the commercialization of isobutanol, a naturally occurring four carbon alcohol with broad applications in large chemicals and fuels markets. Isobutanol can be used as a solvent and a gasoline blendstock and can be further processed into jet fuel and feedstocks for the production of synthetic rubber, plastics and polyesters. Markets served by the Company include solvents and coatings, materials, plastics and fibers, biojet blendstock, gasoline blendstock and other hydrocarbon fuels. “
A number of other brokerages have also recently commented on GEVO. ValuEngine cut shares of Gevo from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. HC Wainwright set a $10.00 target price on shares of Gevo and gave the stock a “buy” rating in a research report on Thursday, March 28th.
Gevo (NASDAQ:GEVO) last posted its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.16). Gevo had a negative return on equity of 27.80% and a negative net margin of 101.89%. The company had revenue of $6.40 million for the quarter, compared to the consensus estimate of $5.57 million. As a group, sell-side analysts predict that Gevo will post -1.47 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of GEVO. BlackRock Inc. raised its position in Gevo by 4,086.6% in the 3rd quarter. BlackRock Inc. now owns 155,072 shares of the energy company’s stock worth $614,000 after purchasing an additional 151,368 shares during the period. Vanguard Group Inc. raised its position in Gevo by 596.4% in the 3rd quarter. Vanguard Group Inc. now owns 91,617 shares of the energy company’s stock worth $363,000 after purchasing an additional 78,461 shares during the period. Vanguard Group Inc raised its position in Gevo by 596.4% in the 3rd quarter. Vanguard Group Inc now owns 91,617 shares of the energy company’s stock worth $363,000 after purchasing an additional 78,461 shares during the period. KBC Group NV raised its position in Gevo by 226.3% in the 4th quarter. KBC Group NV now owns 48,033 shares of the energy company’s stock worth $94,000 after purchasing an additional 33,313 shares during the period. Finally, Wedbush Securities Inc. purchased a new position in Gevo in the 1st quarter worth $67,000. Institutional investors own 8.55% of the company’s stock.
Gevo, Inc is a renewable chemicals and next generation biofuels company, which focuses on the development and commercialization of renewable alternatives to petroleum-based products. It operates through the following segments: Gevo; Gevo Development and Agri-Energy. The Gevo segment focuses in the research and development activities related to the future production of isobutanol, including the development of the firm’s proprietary biocatalysts, the production and sale of renewable jet and other fuels, the retrofit process, and the next generation of chemicals and biofuels that will be based on the company’s isobutanol technology.
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