Zacks Investment Research lowered shares of Gevo Inc. (NASDAQ:GEVO) from a buy rating to a sell rating in a report published on Monday.
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. “
Shares of Gevo (NASDAQ:GEVO) opened at 0.3365 on Monday. The company’s market capitalization is $44.27 million. Gevo has a one year low of $0.22 and a one year high of $1.54. The firm has a 50-day moving average of $0.39 and a 200-day moving average of $0.48.
Gevo (NASDAQ:GEVO) last released its earnings results on Monday, November 14th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $6.90 million for the quarter, compared to the consensus estimate of $9.12 million. Gevo had a negative net margin of 149.62% and a negative return on equity of 57.47%. Analysts forecast that Gevo will post ($0.72) earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in GEVO. BlackRock Institutional Trust Company N.A. increased its stake in Gevo by 218.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,593,285 shares of the company’s stock valued at $768,000 after buying an additional 1,093,145 shares in the last quarter. State Treasurer State of Michigan increased its stake in Gevo by 8.9% in the second quarter. State Treasurer State of Michigan now owns 836,448 shares of the company’s stock valued at $494,000 after buying an additional 68,301 shares during the period. Vanguard Group Inc. increased its stake in Gevo by 357.0% in the second quarter. Vanguard Group Inc. now owns 815,973 shares of the company’s stock valued at $481,000 after buying an additional 637,440 shares during the period. Finally, KBC Group NV increased its stake in Gevo by 40.8% in the third quarter. KBC Group NV now owns 240,843 shares of the company’s stock valued at $116,000 after buying an additional 69,743 shares during the period. 4.31% of the stock is currently owned by institutional investors.
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.