Zacks Investment Research upgraded shares of Gevo, Inc. (NASDAQ:GEVO) from a hold rating to a buy rating in a research report report published on Tuesday, August 29th. 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. “
Several other equities analysts have also recently commented on the stock. HC Wainwright set a $12.00 target price on shares of Gevo and gave the company a buy rating in a research report on Wednesday, July 26th. Rodman & Renshaw reiterated a buy rating and set a $12.00 price objective on shares of Gevo in a research report on Wednesday, August 9th.
Gevo (GEVO) traded up 0.322% during midday trading on Tuesday, hitting $0.623. The stock had a trading volume of 202,453 shares. The firm has a 50 day moving average price of $0.61 and a 200 day moving average price of $0.80. Gevo has a one year low of $0.53 and a one year high of $10.40. The stock’s market cap is $10.10 million.
Gevo (NASDAQ:GEVO) last issued its 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 during the quarter, compared to analysts’ expectations of $5.63 million. Gevo had a negative net margin of 108.84% and a negative return on equity of 43.79%. Equities analysts expect that Gevo will post ($2.00) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu KCG Holdings LLC increased its position in Gevo by 557.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 182,390 shares of the energy company’s stock valued at $126,000 after acquiring an additional 154,654 shares during the period. Vanguard Group Inc. increased its position in Gevo by 22.4% in the 2nd quarter. Vanguard Group Inc. now owns 486,959 shares of the energy company’s stock valued at $336,000 after acquiring an additional 89,020 shares during the period. Finally, Sabby Management LLC acquired a new position in Gevo in the 1st quarter valued at approximately $1,274,000. Hedge funds and other institutional investors own 13.14% of the company’s stock.
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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