Gevo, Inc. (GEVO) Downgraded by Zacks Investment Research to “Hold”
Gevo, Inc. (NASDAQ:GEVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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. “
GEVO has been the topic of several other reports. HC Wainwright set a $12.00 price target 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 target on shares of Gevo in a report on Wednesday, August 9th.
Shares of Gevo (NASDAQ GEVO) traded down 3.2000% during midday trading on Thursday, reaching $0.6050. 310,103 shares of the company traded hands. The company has a 50-day moving average of $0.60 and a 200 day moving average of $0.80. Gevo has a 12-month low of $0.53 and a 12-month high of $10.40. The firm’s market capitalization is $9.81 million.
Gevo (NASDAQ:GEVO) last posted its earnings results on Thursday, August 3rd. The energy company reported ($0.44) EPS for the quarter, topping the 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 company had revenue of $7.54 million during the quarter, compared to the consensus estimate of $5.63 million. On average, equities analysts forecast that Gevo will post ($2.00) earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Sabby Management LLC purchased a new position in Gevo during the first quarter worth about $1,274,000. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 89,020 shares during the last quarter. Finally, Virtu KCG Holdings LLC boosted its holdings in 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 purchasing an additional 154,654 shares during the last quarter. 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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