Zacks Investment Research upgraded shares of Gevo, Inc. (NASDAQ:GEVO) from a hold rating to a buy rating in a research note released on Tuesday, August 8th. The brokerage currently has $0.75 price objective 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. “
Separately, HC Wainwright set a $12.00 price objective on shares of Gevo and gave the stock a buy rating in a research note on Wednesday, July 26th.
Shares of Gevo (NASDAQ GEVO) traded down 0.174% during trading on Tuesday, hitting $0.574. 385,290 shares of the stock traded hands. Gevo has a 52-week low of $0.53 and a 52-week high of $15.97. The company’s 50 day moving average is $0.62 and its 200 day moving average is $1.00. The firm’s market cap is $9.31 million.
Gevo (NASDAQ:GEVO) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.10. Gevo had a negative net margin of 108.86% and a negative return on equity of 35.92%. The company had revenue of $7.54 million during the quarter, compared to the consensus estimate of $5.63 million. On average, equities research analysts predict that Gevo will post ($2.94) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of GEVO. 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 last quarter. Vanguard Group Inc. boosted its position 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 last quarter. Finally, Sabby Management LLC purchased a new position in Gevo during the first quarter worth approximately $1,274,000. 14.84% of the stock is currently owned by institutional investors and hedge funds.
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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