Zacks Investment Research Downgrades Gevo Inc. (GEVO) to Hold

Gevo Inc. (NASDAQ:GEVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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 0.487 on Friday. The firm’s market cap is $23.90 million. Gevo has a 1-year low of $0.22 and a 1-year high of $2.24. The firm has a 50 day moving average price of $0.54 and a 200 day moving average price of $0.45.

Gevo (NASDAQ:GEVO) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.12. The company earned $8.11 million during the quarter, compared to the consensus estimate of $8.90 million. Gevo had a negative net margin of 133.03% and a negative return on equity of 67.50%. Analysts anticipate that Gevo will post ($0.72) EPS for the current year.

A hedge fund recently raised its stake in Gevo stock. State Treasurer State of Michigan raised its stake in Gevo Inc. (NASDAQ:GEVO) by 8.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 836,448 shares of the company’s stock after buying an additional 68,301 shares during the period. State Treasurer State of Michigan owned about 3.63% of Gevo worth $494,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.50% of the company’s stock.

About Gevo

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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