Gevo, Inc. (GEVO) Stock Rating Upgraded by Zacks Investment Research
Gevo, Inc. (NASDAQ:GEVO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm presently has a $0.75 price objective on the energy company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 31.49% from the stock’s previous close.
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 research firms have also weighed in on GEVO. HC Wainwright set a $12.00 target price on shares of Gevo and gave the stock a “buy” rating in a report on Wednesday, July 26th. ValuEngine raised shares of Gevo from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Rodman & Renshaw reaffirmed a “buy” rating and issued a $12.00 target price on shares of Gevo in a report on Wednesday, August 9th.
Shares of Gevo (NASDAQ:GEVO) opened at 0.5704 on Friday. The company’s market capitalization is $9.25 million. Gevo has a 12 month low of $0.53 and a 12 month high of $10.40. The company has a 50-day moving average of $0.61 and a 200 day moving average of $0.81.
Gevo (NASDAQ:GEVO) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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. Analysts forecast that Gevo will post ($2.00) EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu KCG Holdings LLC lifted its position in Gevo by 557.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 182,390 shares of the energy company’s stock worth $126,000 after buying an additional 154,654 shares in the last quarter. Vanguard Group Inc. lifted its position in Gevo by 22.4% during the 2nd quarter. Vanguard Group Inc. now owns 486,959 shares of the energy company’s stock worth $336,000 after buying an additional 89,020 shares in the last quarter. Finally, Sabby Management LLC acquired a new position in Gevo during the 1st quarter worth about $1,274,000. Institutional investors and hedge funds 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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