Gevo, Inc. (GEVO) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Gevo, Inc. (NASDAQ:GEVO) from a buy rating to a hold rating in a report issued on Thursday.
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 analysts have also commented on the stock. ValuEngine upgraded shares of Gevo from a strong sell rating to a sell rating in a research report on Friday, September 1st. Rodman & Renshaw restated a buy rating and issued a $12.00 price objective on shares of Gevo in a research report on Wednesday, August 9th. Finally, HC Wainwright set a $12.00 price objective on shares of Gevo and gave the company a buy rating in a research report on Friday, August 4th.
Shares of Gevo (NASDAQ GEVO) traded up 1.8528% during mid-day trading on Thursday, hitting $0.6102. 105,019 shares of the stock were exchanged. Gevo has a 52 week low of $0.53 and a 52 week high of $10.40. The stock’s market capitalization is $9.89 million. The stock’s 50-day moving average is $0.60 and its 200-day moving average is $0.80.
Gevo (NASDAQ:GEVO) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.10. Gevo had a negative net margin of 108.84% and a negative return on equity of 43.79%. The company had revenue of $7.54 million during the quarter, compared to analyst estimates of $5.63 million. Analysts forecast that Gevo will post ($2.00) earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC lifted 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 purchasing an additional 154,654 shares during the last quarter. Vanguard Group Inc. lifted 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 purchasing an additional 89,020 shares during the last quarter. Finally, Sabby Management LLC bought a new stake in Gevo during the first quarter valued at approximately $1,274,000. 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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