Gevo, Inc. (NASDAQ:GEVO) has been assigned a $12.00 price target by stock analysts at HC Wainwright in a research note issued to investors on Friday. The firm currently has a “buy” rating on the energy company’s stock.
The analysts wrote, “We believe this revision has been driven with the goal of keeping cash burn low, as the cost of producing isobutanol at Luverne with the current infrastructure, exceeds the price that GEVO would receive for it. The company continues to manage isobutanol production to match market development efforts. We believe investors should expect some variability with isobutanol production levels in the near-term.””
Gevo (GEVO) traded down 0.6006% during mid-day trading on Friday, hitting $0.6124. 357,699 shares of the stock were exchanged. Gevo has a 52 week low of $0.53 and a 52 week high of $16.16. The company’s 50-day moving average price is $0.63 and its 200 day moving average price is $1.20. The firm’s market capitalization is $9.22 million.
Gevo (NASDAQ:GEVO) last issued its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.10. The company had revenue of $7.54 million for the quarter, compared to the consensus estimate of $5.63 million. Gevo had a negative net margin of 105.66% and a negative return on equity of 32.57%. Equities research analysts expect that Gevo will post ($3.00) EPS for the current year.
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A hedge fund recently bought a new stake in Gevo stock. Sabby Management LLC purchased a new stake in shares of Gevo, Inc. (NASDAQ:GEVO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,148,755 shares of the energy company’s stock, valued at approximately $1,274,000. Sabby Management LLC owned 16.26% of Gevo at the end of the most recent quarter. 15.86% of the stock is currently owned by hedge funds and other institutional investors.
About Gevo
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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