HC Wainwright restated their buy rating on shares of Gevo (NASDAQ:GEVO) in a report published on Thursday, AnalystRatings.com reports. They currently have a $10.00 price objective on the energy company’s stock.
“We believe the company largely remains on track towards meaningful commercialization of decarbonized ethanol and hydrocarbons. The company continues to add new partners that should be supportive to distribution and uptake of its sustainable aviation fuel. Management indicated that the company currently has interest from such partners and customers for up to 100M gallons of jet fuel and isooctane, dwarfing current planned capacity of around 10M hydrocarbon gallons. The company’s earnings press release stated that the company is working on securing a loan for up to $45.0M. Use of proceeds from such a financing arrangement could be applied towards a range of strategic initiatives, including paying off around $15.0M in secured loans, and capacity build out and decarbonization.”,” HC Wainwright’s analyst commented.
A number of other equities research analysts also recently weighed in on GEVO. Zacks Investment Research downgraded shares of Gevo from a hold rating to a sell rating in a research note on Tuesday, July 2nd. ValuEngine raised shares of Gevo from a hold rating to a buy rating in a research note on Thursday, August 1st.
In other Gevo news, insider Timothy J. Cesarek purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average cost of $1.91 per share, with a total value of $47,750.00. Following the completion of the purchase, the insider now directly owns 30,000 shares in the company, valued at approximately $57,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.41% of the company’s stock.
A hedge fund recently bought a new stake in Gevo stock. Wedbush Securities Inc. purchased a new stake in Gevo Inc (NASDAQ:GEVO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 30,500 shares of the energy company’s stock, valued at approximately $67,000. Wedbush Securities Inc. owned approximately 0.26% of Gevo as of its most recent SEC filing. Hedge funds and other institutional investors own 7.77% of the company’s stock.
Gevo, Inc is a renewable chemicals and next generation biofuels company, which focuses on the development and commercialization of renewable alternatives to petroleum-based products. It operates through the following segments: Gevo; Gevo Development and Agri-Energy. The Gevo segment focuses in the research and development activities related to the future production of isobutanol, including the development of the firm’s proprietary biocatalysts, the production and sale of renewable jet and other fuels, the retrofit process, and the next generation of chemicals and biofuels that will be based on the company’s isobutanol technology.
Receive News & Ratings for Gevo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gevo and related companies with MarketBeat.com's FREE daily email newsletter.