Zacks Investment Research cut shares of Gevo (NASDAQ:GEVO) from a buy rating to a hold rating in a research note released on Tuesday morning.
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 equities research analysts also recently weighed in on the company. HC Wainwright downgraded Gevo from a buy rating to a neutral rating and set a $12.00 price target for the company. in a research note on Tuesday. ValuEngine downgraded Gevo from a sell rating to a strong sell rating in a research note on Thursday, November 9th.
Gevo (GEVO) remained flat at $$0.61 on Tuesday. The stock had a trading volume of 1,189,700 shares, compared to its average volume of 1,549,100. Gevo has a 12-month low of $0.53 and a 12-month high of $4.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.23 and a current ratio of 1.54. The company has a market capitalization of $13.08, a PE ratio of -0.35 and a beta of 3.09.
Gevo (NASDAQ:GEVO) last posted its quarterly earnings results on Monday, November 6th. The energy company reported ($0.36) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.05. Gevo had a negative return on equity of 40.58% and a negative net margin of 84.42%. The company had revenue of $7.70 million during the quarter, compared to the consensus estimate of $5.49 million. sell-side analysts predict that Gevo will post -1.69 earnings per share for the current year.
A hedge fund recently raised its stake in Gevo stock. Vanguard Group Inc. lifted its stake in Gevo, Inc. (NASDAQ:GEVO) by 22.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 486,959 shares of the energy company’s stock after acquiring an additional 89,020 shares during the period. Vanguard Group Inc. owned 3.23% of Gevo worth $336,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 7.07% of the company’s stock.
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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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