Gevo, Inc. (GEVO) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Gevo, Inc. (NASDAQ:GEVO) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $0.75 target price on the energy company’s stock.
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. “
Several other brokerages have also recently issued reports on GEVO. HC Wainwright set a $12.00 target price on Gevo and gave the company a buy rating in a report on Wednesday, July 26th. Rodman & Renshaw restated a buy rating and set a $12.00 target price on shares of Gevo in a report on Wednesday, August 9th.
Shares of Gevo (NASDAQ GEVO) opened at 0.65 on Tuesday. The stock’s 50 day moving average is $0.61 and its 200-day moving average is $0.85. Gevo has a one year low of $0.53 and a one year high of $15.97. The stock’s market cap is $10.54 million.
Gevo (NASDAQ:GEVO) last announced its earnings results on Thursday, August 3rd. The energy company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.10. Gevo had a negative return on equity of 43.79% and a negative net margin of 108.84%. The business had revenue of $7.54 million during the quarter, compared to the consensus estimate of $5.63 million. On average, equities analysts forecast that Gevo will post ($2.94) EPS for the current year.
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Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Gevo by 22.4% in the second quarter. Vanguard Group Inc. now owns 486,959 shares of the energy company’s stock worth $336,000 after buying an additional 89,020 shares during the period. Virtu KCG Holdings LLC boosted its position in Gevo by 557.6% in the second quarter. Virtu KCG Holdings LLC now owns 182,390 shares of the energy company’s stock worth $126,000 after buying an additional 154,654 shares during the period. Finally, Sabby Management LLC bought a new position in Gevo during the first quarter worth $1,274,000. Hedge funds and other institutional investors own 13.14% of the company’s stock.
Gevo Company Profile
Gevo, Inc (Gevo) is a renewable chemicals and next generation biofuels company. The Company has developed a technology that uses a combination of synthetic biology, metabolic engineering, chemistry and chemical engineering to focus primarily on the production of isobutanol, as well as related products from renewable feedstock.
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