In a report released today, Amit Dayal from H.C. Wainwright upgraded Gevo (NASDAQ: GEVO) to Buy, with a price target of $10. The company’s shares opened today at $3.81, close to its 52-week low of $2.75.
Dayal observed:
“Valuation section of this note for more details on our DCF assumptions. Balance Sheet strengthened. During the three months ended June 30, 2018, GEVO raised gross proceeds of $37.4M by issuing its common stock under an at-the-market (ATM) offering. the company’s cash balance was $40.3M.”
According to TipRanks.com, Dayal has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.3% and a 38.9% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.
Gevo has an analyst consensus of Hold.
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The company has a one-year high of $24.74 and a one-year low of $2.75. Currently, Gevo has an average volume of 2.1M.
Based on the recent corporate insider activity of 81 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.
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Gevo, Inc. is a renewable chemicals and next generation biofuels company which focuses on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. It operates through the following segments: Gevo, Gevo Development and Agri-Energy.
