Gevo, Inc. (NASDAQ:GEVO) Rating Increased 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 sent to investors on Tuesday, August 8th. The brokerage 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. “

Separately, HC Wainwright set a $12.00 price objective on Gevo and gave the stock a buy rating in a research report on Wednesday, July 26th.

Gevo (NASDAQ GEVO) traded down 0.174% during mid-day trading on Tuesday, reaching $0.574. The company had a trading volume of 385,290 shares. Gevo has a one year low of $0.53 and a one year high of $16.00. The firm’s 50-day moving average is $0.62 and its 200-day moving average is $1.00. The firm’s market capitalization is $9.31 million.

Gevo (NASDAQ:GEVO) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.44) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.10. The firm had revenue of $7.54 million during the quarter, compared to the consensus estimate of $5.63 million. Gevo had a negative return on equity of 35.92% and a negative net margin of 108.86%. On average, equities research analysts anticipate that Gevo will post ($2.94) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu KCG Holdings LLC boosted its position in shares of Gevo by 557.6% in the second quarter. Virtu KCG Holdings LLC now owns 182,390 shares of the energy company’s stock worth $126,000 after buying an additional 154,654 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Gevo by 22.4% in the second 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 purchased a new position in shares of Gevo during the first quarter worth approximately $1,274,000. 14.84% 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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