Zacks Investment Research Lowers Gevo, Inc. (GEVO) 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 Wednesday.
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. “
GEVO has been the subject of a number of other research reports. Rodman & Renshaw reaffirmed a buy rating and set a $12.00 target price on shares of Gevo in a report on Wednesday, August 9th. HC Wainwright set a $12.00 target price on shares of Gevo and gave the stock a buy rating in a report on Friday, August 4th. Finally, ValuEngine lowered shares of Gevo from a sell rating to a strong sell rating in a report on Monday, October 2nd.
Shares of Gevo (NASDAQ GEVO) traded up 7.061% during trading on Wednesday, reaching $0.705. The company’s stock had a trading volume of 5,028,538 shares. Gevo has a 12 month low of $0.53 and a 12 month high of $9.60. The company’s market capitalization is $11.43 million. The company’s 50-day moving average is $0.62 and its 200-day moving average is $0.76.
Gevo (NASDAQ:GEVO) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.10. The business had revenue of $7.54 million during the quarter, compared to analyst estimates of $5.63 million. Gevo had a negative net margin of 108.84% and a negative return on equity of 43.79%. On average, analysts forecast that Gevo will post ($2.00) EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu KCG Holdings LLC lifted its position in Gevo by 557.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 182,390 shares of the energy company’s stock valued at $126,000 after acquiring an additional 154,654 shares in the last quarter. Vanguard Group Inc. lifted its position in Gevo by 22.4% during the 2nd 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 in the last quarter. Finally, Sabby Management LLC bought a new stake in Gevo during the 1st quarter worth about $1,274,000. 13.14% 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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