Gevo, Inc. (GEVO) PT Set at $12.00 by HC Wainwright
“We are pleased to see that progress is being made on adapting Gevo’s technology for non-corn feedstocks. We believe that the success of this development effort demonstrates the versatility and adaptability of Gevo’s isobutanol technology for varied feedstocks. Under the second phase of the development agreement, Praj is expected to adapt Gevo’s technology to use lignocellulosic feedstock. In our opinion, the use of non-corn feedstock offers a significant mid- to long-term opportunity to Gevo. Praj has a significant worldwide presence and can leverage Gevo’s technology that can be implemented as a bolt-on to existing ethanol plants or as a greenfield plant. Isobutanol produced using this technology can be used as a gasoline blendstock, as a specialty chemical solvent, or it can be utilized in the production of alcohol-to-jet fuel (ATJ) and isooctane. As a reminder to investors, Gevo’s ATJ technology has already been successfully demonstrated by its use in flights by Alaska Airlines (ALK; not rated), the U.S. Air Force, the U.S. Army, and the U.S. Navy. We believe that in addition to the initially targeted regions of India, South America, and South-East Asia, Praj and Gevo should also be able to make inroads into geographies like California, where low-carbon fuels are valued. Since the beginning of the year, Gevo has: 1) successfully addressed its debt maturity issues; and 2) entered into an offtake agreement to supply renewable isooctane to HCS Holding GmbH (HCS). The company is already in further discussions with HCS to establish agreements for other products like ATJ and isobutanol.”,” HC Wainwright’s analyst wrote.
Shares of Gevo (NASDAQ:GEVO) traded up 1.244% on Wednesday, reaching $0.651. The company had a trading volume of 761,780 shares. The stock’s market capitalization is $9.80 million. Gevo has a 1-year low of $0.53 and a 1-year high of $16.20. The company’s 50 day moving average price is $0.63 and its 200-day moving average price is $1.28.
Gevo (NASDAQ:GEVO) last posted its earnings results on Tuesday, May 9th. The energy company reported ($0.68) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by $0.11. Gevo had a negative net margin of 149.25% and a negative return on equity of 38.26%. The company had revenue of $5.62 million during the quarter, compared to analyst estimates of $5.87 million. Equities analysts predict that Gevo will post ($3.00) EPS for the current year.
A hedge fund recently bought a new stake in Gevo stock. Sabby Management LLC purchased a new stake in Gevo, Inc. (NASDAQ:GEVO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,148,755 shares of the energy company’s stock, valued at approximately $1,274,000. Sabby Management LLC owned 16.26% of Gevo as of its most recent filing with the SEC. Hedge funds and other institutional investors own 15.86% of the company’s stock.
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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