Gevo, Inc. (GEVO) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Gevo, Inc. (NASDAQ:GEVO) from a hold rating to a buy rating in a research note published on Friday. 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. “
A number of other equities research analysts have also issued reports on the company. ValuEngine raised Gevo from a strong sell rating to a sell rating in a research report on Friday, September 1st. Rodman & Renshaw reaffirmed a buy rating and set a $12.00 target price on shares of Gevo in a research report on Wednesday, August 9th. Finally, HC Wainwright set a $12.00 target price on Gevo and gave the stock a buy rating in a research report on Friday, August 4th.
Gevo (GEVO) traded down 1.3744% during mid-day trading on Friday, reaching $0.6243. The company had a trading volume of 621,304 shares. Gevo has a 12 month low of $0.53 and a 12 month high of $10.40. The firm’s market capitalization is $10.12 million. The stock’s 50-day moving average is $0.60 and its 200 day moving average is $0.79.
Gevo (NASDAQ:GEVO) last announced its earnings results on Thursday, August 3rd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.10. The company had revenue of $7.54 million for the quarter, compared to analyst estimates of $5.63 million. Gevo had a negative return on equity of 43.79% and a negative net margin of 108.84%. On average, analysts predict that Gevo will post ($2.00) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Virtu KCG Holdings LLC raised its position in Gevo by 557.6% during the second quarter. Virtu KCG Holdings LLC now owns 182,390 shares of the energy company’s stock valued at $126,000 after buying an additional 154,654 shares during the period. Vanguard Group Inc. raised its position in Gevo by 22.4% during the second quarter. Vanguard Group Inc. now owns 486,959 shares of the energy company’s stock valued at $336,000 after buying an additional 89,020 shares during the period. Finally, Sabby Management LLC acquired a new position in Gevo during the first quarter valued at $1,274,000. 13.14% of the stock is currently owned by hedge funds and other institutional investors.
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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