Gevo, Inc. (GEVO) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Gevo, Inc. (NASDAQ:GEVO) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
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 research analysts have also issued research reports about the stock. HC Wainwright set a $12.00 price target on shares of Gevo and gave the company a buy rating in a report on Friday, August 4th. Rodman & Renshaw restated a buy rating and issued a $12.00 price target on shares of Gevo in a report on Wednesday, August 9th.
Gevo (NASDAQ GEVO) opened at 0.5815 on Tuesday. Gevo has a 52 week low of $0.53 and a 52 week high of $15.97. The company’s market capitalization is $9.43 million. The firm has a 50-day moving average of $0.61 and a 200-day moving average of $0.93.
Gevo (NASDAQ:GEVO) last posted its quarterly earnings results 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. 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 analyst estimates of $5.63 million. Analysts anticipate that Gevo will post ($2.94) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of GEVO. Vanguard Group Inc. raised its position in 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 during the last quarter. Virtu KCG Holdings LLC raised its position in 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 during the last quarter. Finally, Sabby Management LLC acquired a new position in Gevo during the first quarter valued at approximately $1,274,000. Hedge funds and other institutional investors own 14.84% 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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