Zacks Investment Research Lowers Gevo (NASDAQ:GEVO) to Sell
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 research analysts also recently weighed in on GEVO. ValuEngine downgraded Gevo from a buy rating to a hold rating in a research note on Friday, March 1st. HC Wainwright set a $10.00 target price on Gevo and gave the stock a buy rating in a research note on Thursday, March 28th.
Gevo (NASDAQ:GEVO) last released its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.16). The company had revenue of $6.40 million during the quarter, compared to analysts’ expectations of $5.57 million. Gevo had a negative return on equity of 27.80% and a negative net margin of 101.89%. On average, analysts predict that Gevo will post -1.47 EPS for the current year.
In other news, insider Timothy J. Cesarek acquired 25,000 shares of Gevo stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average cost of $1.91 per share, with a total value of $47,750.00. Following the purchase, the insider now owns 30,000 shares in the company, valued at $57,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.41% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedbush Securities Inc. acquired a new position in Gevo in the 1st quarter valued at $67,000. KBC Group NV raised its stake in Gevo by 226.3% in the 4th quarter. KBC Group NV now owns 48,033 shares of the energy company’s stock valued at $94,000 after purchasing an additional 33,313 shares during the last quarter. Vanguard Group Inc raised its stake in Gevo by 596.4% in the 3rd quarter. Vanguard Group Inc now owns 91,617 shares of the energy company’s stock valued at $363,000 after purchasing an additional 78,461 shares during the last quarter. Vanguard Group Inc. raised its stake in Gevo by 596.4% in the 3rd quarter. Vanguard Group Inc. now owns 91,617 shares of the energy company’s stock valued at $363,000 after purchasing an additional 78,461 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Gevo by 4,086.6% in the 3rd quarter. BlackRock Inc. now owns 155,072 shares of the energy company’s stock valued at $614,000 after purchasing an additional 151,368 shares during the last quarter. 8.55% of the stock is owned by hedge funds and other institutional investors.
Gevo Company Profile
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.
See Also: Price to Earnings Ratio (PE)
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