Gevo, Inc. (GEVO) Lifted 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 note issued on Saturday. The brokerage presently has a $0.75 price objective on the energy company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 31.49% from the company’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. “
Several other analysts have also weighed in on GEVO. HC Wainwright set a $12.00 price objective on Gevo and gave the company a “buy” rating in a research note on Wednesday, July 26th. Rodman & Renshaw reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Gevo in a research note on Wednesday, August 9th. Finally, ValuEngine raised Gevo from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.
Gevo (GEVO) opened at 0.5704 on Friday. Gevo has a 12 month low of $0.53 and a 12 month high of $10.40. The company’s 50-day moving average is $0.61 and its 200 day moving average is $0.81. The firm’s market cap is $9.25 million.
Gevo (NASDAQ:GEVO) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.10. The business had revenue of $7.54 million for the quarter, compared to analyst estimates of $5.63 million. Gevo had a negative return on equity of 43.79% and a negative net margin of 108.84%. Equities research analysts expect that Gevo will post ($2.00) EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Sabby Management LLC acquired a new stake in Gevo in the first quarter valued at about $1,274,000. Virtu KCG Holdings LLC boosted its stake 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 valued at $126,000 after purchasing an additional 154,654 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake 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 valued at $336,000 after purchasing an additional 89,020 shares in the last quarter. 13.14% of the stock is currently owned by institutional investors and hedge funds.
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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