Gevo (NASDAQ:GEVO – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.
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. “
Separately, Citigroup initiated coverage on shares of Gevo in a report on Wednesday, February 9th. They set a “buy” rating and a $5.00 price target for the company.
NASDAQ GEVO traded down $0.05 on Tuesday, hitting $4.58. 6,378,019 shares of the company’s stock were exchanged, compared to its average volume of 9,014,598. The stock has a 50-day moving average of $3.97 and a 200-day moving average of $5.01. The company has a current ratio of 10.78, a quick ratio of 10.70 and a debt-to-equity ratio of 0.15. Gevo has a 52 week low of $2.79 and a 52 week high of $9.64. The stock has a market cap of $925.11 million, a price-to-earnings ratio of -15.79 and a beta of 3.28.
Gevo (NASDAQ:GEVO – Get Rating) last released its earnings results on Thursday, February 24th. The energy company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Gevo had a negative return on equity of 10.39% and a negative net margin of 8,326.72%. The business had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.61 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. As a group, analysts predict that Gevo will post -0.35 earnings per share for the current year.
In related news, Director Gary W. Mize purchased 35,339 shares of the stock in a transaction dated Thursday, March 24th. The stock was bought at an average cost of $4.48 per share, for a total transaction of $158,318.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its position in Gevo by 25.5% in the 4th quarter. State Street Corp now owns 18,662,857 shares of the energy company’s stock valued at $79,877,000 after acquiring an additional 3,795,779 shares in the last quarter. BlackRock Inc. increased its stake in shares of Gevo by 4.2% during the 4th quarter. BlackRock Inc. now owns 14,386,751 shares of the energy company’s stock worth $61,577,000 after purchasing an additional 581,797 shares during the last quarter. Invesco Ltd. grew its stake in Gevo by 9.6% in the 3rd quarter. Invesco Ltd. now owns 4,906,803 shares of the energy company’s stock valued at $32,581,000 after buying an additional 429,210 shares in the last quarter. Geode Capital Management LLC grew its stake in Gevo by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 3,312,293 shares of the energy company’s stock valued at $14,176,000 after buying an additional 81,423 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Gevo by 17.4% in the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,178,913 shares of the energy company’s stock valued at $9,326,000 after buying an additional 323,497 shares in the last quarter. Institutional investors and hedge funds own 34.68% of the company’s stock.
Gevo Company Profile (Get Rating)
Gevo, Inc operates as a renewable fuels company. It operates through four segments: Gevo, Agri-Energy, Renewable Natural Gas, and Net-Zero. The company commercializes gasoline, jet fuel, and diesel fuel to achieve zero carbon emissions, and reduce greenhouse gas emissions with sustainable alternatives.
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