Gevo, Inc. (GEVO) Upgraded to Buy at 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 Tuesday. The brokerage presently has a $0.75 price objective on the energy company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 20.97% from the stock’s current price.
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. “
Separately, HC Wainwright set a $12.00 target price on Gevo and gave the company a “buy” rating in a research note on Wednesday, July 26th.
Gevo (NASDAQ:GEVO) traded up 1.67% on Tuesday, hitting $0.62. The stock had a trading volume of 168,508 shares. The stock’s market capitalization is $9.34 million. Gevo has a 52 week low of $0.53 and a 52 week high of $16.20. The company has a 50-day moving average price of $0.63 and a 200-day moving average price of $1.19.
Gevo (NASDAQ:GEVO) last issued its 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. The company had revenue of $7.54 million during the quarter, compared to the consensus estimate of $5.63 million. Gevo had a negative return on equity of 35.92% and a negative net margin of 108.86%. Equities research analysts anticipate that Gevo will post ($3.00) earnings per share for the current fiscal year.
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An institutional investor recently bought a new position in Gevo stock. Sabby Management LLC purchased a new position in Gevo, Inc. (NASDAQ:GEVO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,148,755 shares of the energy company’s stock, valued at approximately $1,274,000. Sabby Management LLC owned about 16.26% of Gevo as of its most recent SEC filing. Institutional investors own 15.86% 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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