Zacks Investment Research upgraded shares of Gevo Inc. (NASDAQ:GEVO) from a hold rating to a buy rating in a research report sent to investors on Monday morning. The firm currently has $0.50 target price on the stock.
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 (NASDAQ:GEVO) opened at 0.482 on Monday. The stock’s 50 day moving average price is $0.52 and its 200-day moving average price is $0.45. Gevo has a 52-week low of $0.22 and a 52-week high of $2.24. The company’s market capitalization is $23.66 million.
Gevo (NASDAQ:GEVO) last released its earnings results on Tuesday, August 9th. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.12. Gevo had a negative return on equity of 67.50% and a negative net margin of 133.03%. The firm earned $8.11 million during the quarter, compared to the consensus estimate of $8.90 million. Analysts predict that Gevo will post ($0.72) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Gevo stock. Vanguard Group Inc. boosted its position in Gevo Inc. (NASDAQ:GEVO) by 357.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 815,973 shares of the company’s stock after buying an additional 637,440 shares during the period. Vanguard Group Inc. owned about 3.55% of Gevo worth $481,000 at the end of the most recent reporting period. Institutional investors own 3.50% 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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