Gevo (NASDAQ:GEVO) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen downgraded shares of Gevo (NASDAQ:GEVO) from a sell rating to a strong sell rating in a report issued on Saturday,Wall Street Zen reports.

Several other brokerages have also recently issued reports on GEVO. Jefferies Financial Group reissued a “hold” rating and issued a $1.90 price objective on shares of Gevo in a research note on Friday, August 14th. Northland Securities set a $3.75 target price on Gevo in a report on Thursday, July 16th. Weiss Ratings downgraded Gevo from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. Finally, Zacks Research upgraded Gevo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.55.

Gevo Price Performance

Gevo stock opened at $1.40 on Friday. The stock has a market cap of $346.14 million, a price-to-earnings ratio of -1.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.70 and a quick ratio of 2.19. Gevo has a 1 year low of $1.37 and a 1 year high of $2.97. The firm has a 50-day moving average of $1.58 and a two-hundred day moving average of $1.75.

Gevo (NASDAQ:GEVO) last issued its earnings results on Thursday, August 6th. The energy company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Gevo had a negative net margin of 119.93% and a negative return on equity of 6.50%. The business had revenue of $46.50 million for the quarter, compared to analyst estimates of $46.40 million. On average, research analysts forecast that Gevo will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Oluwagbemileke Agiri sold 18,223 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $1.54, for a total transaction of $28,063.42. Following the completion of the sale, the chief financial officer directly owned 472,893 shares in the company, valued at $728,255.22. This represents a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patrick R. Gruber sold 247,642 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $1.51, for a total value of $373,939.42. Following the sale, the director directly owned 3,323,788 shares in the company, valued at approximately $5,018,919.88. The trade was a 6.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 313,286 shares of company stock valued at $476,443. 7.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Gevo

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of Gevo in the 2nd quarter valued at about $926,000. J. Derek Lewis & Associates Inc. raised its stake in shares of Gevo by 23.0% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 535,000 shares of the energy company’s stock worth $1,461,000 after acquiring an additional 100,000 shares in the last quarter. Bank of America Corp DE lifted its position in Gevo by 166.1% during the first quarter. Bank of America Corp DE now owns 2,186,704 shares of the energy company’s stock valued at $5,970,000 after acquiring an additional 1,364,924 shares during the last quarter. Amundi lifted its position in Gevo by 25.6% during the first quarter. Amundi now owns 135,539 shares of the energy company’s stock valued at $370,000 after acquiring an additional 27,636 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Gevo by 153.8% during the first quarter. Renaissance Technologies LLC now owns 2,215,194 shares of the energy company’s stock valued at $6,047,000 after acquiring an additional 1,342,400 shares during the last quarter. 35.17% of the stock is currently owned by institutional investors.

About Gevo

Gevo, Inc is a renewable fuels and chemicals company that develops alternatives to petroleum-based products. Its technology platform is designed to convert renewable carbohydrate feedstocks into alcohols and hydrocarbon-based fuels and chemicals, including sustainable aviation fuel, renewable gasoline and other low-carbon products.

The company also produces ethanol, animal feed and corn oil through its Gevo North Dakota operations. Gevo has pursued technologies and projects intended to reduce the lifecycle carbon intensity of its products, including the use of renewable energy, carbon capture and sequestration, and renewable natural gas.