Zacks Investment Research Downgrades Gevo, Inc. (GEVO) to Hold
Gevo, Inc. (NASDAQ:GEVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “
Several other equities analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Gevo in a research report on Wednesday. Rodman & Renshaw reiterated a “buy” rating and set a $12.00 price target on shares of Gevo in a research report on Wednesday, August 9th. Finally, ValuEngine cut Gevo from a “sell” rating to a “strong sell” rating in a research report on Monday.
Shares of Gevo (GEVO) traded down 2.946% on Wednesday, reaching $0.626. The company had a trading volume of 1,076,907 shares. The stock has a 50 day moving average price of $0.61 and a 200-day moving average price of $0.76. The company’s market capitalization is $10.15 million. Gevo has a 12 month low of $0.53 and a 12 month high of $9.80.
Gevo (NASDAQ:GEVO) last announced its earnings results 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 firm had revenue of $7.54 million for the quarter, compared to the consensus estimate of $5.63 million. Gevo had a negative return on equity of 43.79% and a negative net margin of 108.84%. Analysts forecast that Gevo will post ($2.00) EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of GEVO. Sabby Management LLC acquired a new position in shares of Gevo during the 1st quarter valued at $1,274,000. Virtu KCG Holdings LLC increased its position in shares of Gevo by 557.6% during the 2nd 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 during the period. Finally, Vanguard Group Inc. increased its position in shares of Gevo by 22.4% during the 2nd 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 during the period. Institutional investors 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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