Gevo Inc. (GEVO) Downgraded to “Sell” at Zacks Investment Research
Gevo Inc. (NASDAQ:GEVO) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Monday.
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. “
Gevo (NASDAQ:GEVO) traded down 1.1290% during trading on Monday, hitting $0.3065. The stock had a trading volume of 2,295,394 shares. The company’s market cap is $27.27 million. Gevo has a 52-week low of $0.22 and a 52-week high of $1.54. The company has a 50-day moving average price of $0.41 and a 200-day moving average price of $0.48.
Gevo (NASDAQ:GEVO) last announced its quarterly earnings data on Monday, November 14th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). Gevo had a negative net margin of 149.62% and a negative return on equity of 57.47%. The company earned $6.90 million during the quarter, compared to analyst estimates of $9.12 million. Equities research analysts forecast that Gevo will post ($0.72) EPS for the current year.
Several large investors have recently bought and sold shares of GEVO. State Treasurer State of Michigan raised its stake in Gevo by 8.9% in the second quarter. State Treasurer State of Michigan now owns 836,448 shares of the company’s stock valued at $494,000 after buying an additional 68,301 shares during the period. KBC Group NV raised its stake in Gevo by 40.8% in the third quarter. KBC Group NV now owns 240,843 shares of the company’s stock valued at $116,000 after buying an additional 69,743 shares during the period. Vanguard Group Inc. raised its stake in Gevo by 357.0% in the second quarter. Vanguard Group Inc. now owns 815,973 shares of the company’s stock valued at $481,000 after buying an additional 637,440 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Gevo by 218.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,593,285 shares of the company’s stock valued at $768,000 after buying an additional 1,093,145 shares during the period. Hedge funds and other institutional investors own 4.31% of the company’s stock.
Gevo Company Profile
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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