Zacks Investment Research cut shares of Gevo (NASDAQ:GEVO) from a strong-buy rating to a hold rating in a research note issued to 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. “
A number of other equities analysts have also recently commented on GEVO. HC Wainwright raised shares of Gevo from a neutral rating to a buy rating in a research note on Friday, September 7th. ValuEngine raised shares of Gevo from a hold rating to a buy rating in a research note on Thursday, November 1st.
GEVO remained flat at $$3.24 during trading on Wednesday. 103,079 shares of the company traded hands, compared to its average volume of 188,120. The stock has a market capitalization of $28.25 million, a PE ratio of -0.10 and a beta of 2.64. Gevo has a 52 week low of $2.75 and a 52 week high of $24.74. The company has a quick ratio of 10.19, a current ratio of 7.74 and a debt-to-equity ratio of 0.13.
Gevo (NASDAQ:GEVO) last issued its quarterly earnings data on Tuesday, November 6th. The energy company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). Gevo had a negative return on equity of 25.51% and a negative net margin of 76.73%. The business had revenue of $8.58 million during the quarter, compared to analysts’ expectations of $7.72 million. On average, analysts anticipate that Gevo will post -6.73 earnings per share for the current year.
In other news, Director Johannes Minho Roth purchased 137,170 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average cost of $3.07 per share, with a total value of $421,111.90. Following the purchase, the director now owns 19,424 shares in the company, valued at $59,631.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick R. Gruber purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were purchased at an average cost of $2.93 per share, with a total value of $29,300.00. The disclosure for this purchase can be found here. Company insiders own 0.05% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GEVO. Jane Street Group LLC purchased a new position in shares of Gevo during the 2nd quarter worth about $107,000. Bank of Montreal Can purchased a new position in shares of Gevo during the 2nd quarter worth about $114,000. Finally, BlackRock Inc. boosted its stake in shares of Gevo by 4,086.6% during the 3rd quarter. BlackRock Inc. now owns 155,072 shares of the energy company’s stock worth $614,000 after purchasing an additional 151,368 shares during the period. 4.88% of the stock is owned by hedge funds and other institutional investors.
Gevo Company Profile
Gevo, Inc, a renewable chemicals and biofuels company, focuses on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks in the United States. It operates through two segments, Gevo, Inc and Gevo Development/Agri-Energy.
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