Gevo (GEVO) Raised to “Hold” at Zacks Investment Research
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 research firms also recently issued reports on GEVO. ValuEngine raised Gevo from a hold rating to a buy rating in a research report on Tuesday, March 12th. HC Wainwright set a $10.00 price target on Gevo and gave the company a buy rating in a research report on Thursday, March 28th.
Gevo (NASDAQ:GEVO) last posted its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.16). Gevo had a negative net margin of 101.89% and a negative return on equity of 27.80%. The firm had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $5.57 million. As a group, analysts expect that Gevo will post -1.47 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the business. Wedbush Securities Inc. purchased a new stake in shares of Gevo in the first quarter valued at approximately $67,000. KBC Group NV increased its position in shares of Gevo by 226.3% in the fourth quarter. KBC Group NV now owns 48,033 shares of the energy company’s stock valued at $94,000 after buying an additional 33,313 shares in the last quarter. Vanguard Group Inc increased its position in shares of Gevo by 596.4% in the third quarter. Vanguard Group Inc now owns 91,617 shares of the energy company’s stock valued at $363,000 after buying an additional 78,461 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Gevo by 596.4% in the third quarter. Vanguard Group Inc. now owns 91,617 shares of the energy company’s stock valued at $363,000 after buying an additional 78,461 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Gevo by 4,086.6% in the third quarter. BlackRock Inc. now owns 155,072 shares of the energy company’s stock valued at $614,000 after buying an additional 151,368 shares in the last quarter. 8.55% of the stock is owned by hedge funds and other institutional investors.
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.
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