H.C. Wainwright Keeps Their Buy Rating on Gevo (GEVO)

By Ryan Adsit

H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Gevo (GEVOResearch Report) today and set a price target of $10. The company’s shares closed last Monday at $2.53.

Dayal observed:

“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.”

According to TipRanks.com, Dayal is a 4-star analyst with an average return of 3.5% and a 43.5% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Advanced Emissions Solutions, Inc., Ballard Power Systems, and Orion Energy Systems.

Gevo has an analyst consensus of Moderate Buy, with a price target consensus of $10.

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Based on Gevo’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $6.14 million. In comparison, last year the company had a GAAP net loss of $11.49 million.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GEVO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.