Zacks Investment Research upgraded shares of Gevo, Inc. (NASDAQ:GEVO) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $0.75 target price 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. “
Other equities research analysts also recently issued research reports about the stock. HC Wainwright set a $12.00 price target on shares of Gevo and gave the stock a buy rating in a research note on Friday, August 4th. Rodman & Renshaw reiterated a buy rating and set a $12.00 price target on shares of Gevo in a research note on Wednesday, August 9th.
Shares of Gevo (NASDAQ:GEVO) traded up 0.0877% during midday trading on Wednesday, reaching $0.5705. 24,172 shares of the company traded hands. The company has a 50 day moving average of $0.61 and a 200 day moving average of $0.93. Gevo has a 12 month low of $0.53 and a 12 month high of $15.97. The firm’s market capitalization is $9.25 million.
Gevo (NASDAQ:GEVO) last posted its quarterly earnings results on Thursday, August 3rd. The energy company reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.10. Gevo had a negative net margin of 108.86% and a negative return on equity of 35.92%. The firm had revenue of $7.54 million for the quarter, compared to the consensus estimate of $5.63 million. On average, equities research analysts predict that Gevo will post ($2.94) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of GEVO. Sabby Management LLC purchased a new stake in shares of Gevo during the first quarter valued at approximately $1,274,000. Vanguard Group Inc. increased its stake 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 valued at $336,000 after buying an additional 89,020 shares in the last quarter. Finally, Virtu KCG Holdings LLC increased its stake 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 valued at $126,000 after buying an additional 154,654 shares in the last quarter. Institutional investors own 14.84% of the company’s stock.
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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