Gevo, Inc. (GEVO) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Gevo, Inc. (NASDAQ:GEVO) from a hold rating to a buy rating in a research report released on Monday morning. Zacks Investment Research 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. “
Several other research analysts have also recently issued reports on GEVO. HC Wainwright set a $12.00 price target on Gevo and gave the company a buy rating in a report on Wednesday, July 26th. Rodman & Renshaw reissued a buy rating and set a $12.00 target price on shares of Gevo in a research note on Wednesday, August 9th. Finally, ValuEngine raised shares of Gevo from a strong sell rating to a sell rating in a research note on Friday, September 1st.
Shares of Gevo (NASDAQ GEVO) opened at 0.575 on Monday. Gevo has a 12-month low of $0.53 and a 12-month high of $10.40. The stock’s 50 day moving average price is $0.60 and its 200 day moving average price is $0.79. The firm’s market cap is $9.32 million.
Gevo (NASDAQ:GEVO) last posted its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.10. The company had revenue of $7.54 million for the quarter, compared to analysts’ expectations of $5.63 million. Gevo had a negative return on equity of 43.79% and a negative net margin of 108.84%. On average, equities research analysts predict that Gevo will post ($2.00) EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in GEVO. Sabby Management LLC acquired a new stake in Gevo during the 1st quarter valued at $1,274,000. Vanguard Group Inc. raised its stake in Gevo by 22.4% during the 2nd 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 period. Finally, Virtu KCG Holdings LLC raised its stake in Gevo by 557.6% during the 2nd 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 period. 13.14% of the stock is currently owned by institutional investors.
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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