Gevo, Inc. (GEVO) Rating Lowered to Hold at Zacks Investment Research
Gevo, Inc. (NASDAQ:GEVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
A number of other brokerages have also commented on GEVO. HC Wainwright set a $12.00 price objective on shares of Gevo and gave the stock a “buy” rating in a report on Wednesday, July 26th. ValuEngine upgraded shares of Gevo from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Rodman & Renshaw restated a “buy” rating and set a $12.00 price objective on shares of Gevo in a report on Wednesday, August 9th.
Gevo (GEVO) traded down 0.9909% during trading on Wednesday, hitting $0.5995. 239,744 shares of the stock were exchanged. The stock has a 50 day moving average price of $0.61 and a 200-day moving average price of $0.82. The firm’s market capitalization is $9.72 million. Gevo has a 12-month low of $0.53 and a 12-month high of $10.80.
Gevo (NASDAQ:GEVO) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.10. Gevo had a negative net margin of 108.84% and a negative return on equity of 43.79%. The business had revenue of $7.54 million for the quarter, compared to analyst estimates of $5.63 million. On average, equities research analysts anticipate that Gevo will post ($2.94) earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Sabby Management LLC acquired a new stake in shares of Gevo during the first quarter worth $1,274,000. Virtu KCG Holdings LLC raised its holdings in shares of Gevo by 557.6% during the second quarter. Virtu KCG Holdings LLC now owns 182,390 shares of the energy company’s stock worth $126,000 after acquiring an additional 154,654 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Gevo by 22.4% during the second quarter. Vanguard Group Inc. now owns 486,959 shares of the energy company’s stock worth $336,000 after acquiring an additional 89,020 shares during the period. Institutional investors and hedge funds own 13.14% 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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