Gevo, Inc. (GEVO) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Gevo, Inc. (NASDAQ:GEVO) from a buy rating to a hold rating in a report issued 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. “
A number of other brokerages have also recently issued reports on GEVO. HC Wainwright restated a buy rating and set a $12.00 price objective on shares of Gevo in a report on Wednesday. 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 objective on shares of Gevo in a report on Wednesday, August 9th.
Shares of Gevo (NASDAQ GEVO) traded up 1.6933% during midday trading on Wednesday, hitting $0.6366. 483,529 shares of the company traded hands. Gevo has a 12-month low of $0.53 and a 12-month high of $9.80. The stock’s 50-day moving average is $0.61 and its 200 day moving average is $0.76. The stock’s market capitalization is $10.32 million.
Gevo (NASDAQ:GEVO) last issued its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.10. The firm had revenue of $7.54 million during the quarter, compared to analysts’ expectations of $5.63 million. Gevo had a negative net margin of 108.84% and a negative return on equity of 43.79%. On average, analysts expect that Gevo will post ($2.00) earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Sabby Management LLC acquired a new position in Gevo during the first quarter valued at approximately $1,274,000. Virtu KCG Holdings LLC lifted its stake in Gevo by 557.6% in the second quarter. Virtu KCG Holdings LLC now owns 182,390 shares of the energy company’s stock valued at $126,000 after buying an additional 154,654 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Gevo by 22.4% in the second quarter. Vanguard Group Inc. now owns 486,959 shares of the energy company’s stock valued at $336,000 after buying an additional 89,020 shares in the last quarter. Hedge funds and other institutional investors 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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