Gevo, Inc. Forecasted to Post Q3 2023 Earnings of ($0.06) Per Share (NASDAQ:GEVO)
Gevo, Inc. (NASDAQ:GEVO – Free Report) – Equities researchers at Northland Capmk issued their Q3 2023 EPS estimates for Gevo in a note issued to investors on Monday, August 21st. Northland Capmk…
From the Equity Insider archive. This article dates from Aug 23, 2023 and is preserved as first published.
Gevo, Inc. (NASDAQ:GEVO – Free Report) – Equities researchers at Northland Capmk issued their Q3 2023 EPS estimates for Gevo in a note issued to investors on Monday, August 21st. Northland Capmk analyst A. Sinha expects that the energy company will post earnings per share of ($0.06) for the quarter. The consensus estimate for Gevo’s current full-year earnings is ($0.25) per share. Northland Capmk also issued estimates for Gevo’s Q4 2023 earnings at ($0.06) EPS, FY2023 earnings at ($0.28) EPS, Q1 2024 earnings at ($0.05) EPS, Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.24) EPS.
Gevo (NASDAQ:GEVO – Get Free Report) last posted its quarterly earnings results on Thursday, August 10th. The energy company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Gevo had a negative net margin of 1,105.89% and a negative return on equity of 16.82%. The firm had revenue of $4.24 million for the quarter, compared to the consensus estimate of $4.39 million. During the same period last year, the firm posted ($0.06) earnings per share.
A number of other equities research analysts have also recently weighed in on the stock. HC Wainwright dropped their price target on shares of Gevo from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Stifel Nicolaus lifted their price target on shares of Gevo from $3.00 to $3.40 and gave the company a “buy” rating in a research report on Tuesday. Finally, Northland Securities initiated coverage on shares of Gevo in a research report on Monday. They set a “market perform” rating and a $2.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.79.
Gevo Stock Performance
Gevo stock opened at $1.43 on Wednesday. Gevo has a 12-month low of $1.01 and a 12-month high of $3.34. The company has a 50-day moving average price of $1.56 and a 200 day moving average price of $1.52.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. GTS Securities LLC purchased a new position in Gevo in the second quarter worth approximately $80,000. Alliancebernstein L.P. lifted its stake in Gevo by 20.4% in the second quarter. Alliancebernstein L.P. now owns 340,960 shares of the energy company’s stock worth $518,000 after acquiring an additional 57,660 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Gevo by 23.6% during the 2nd quarter. Wells Fargo & Company MN now owns 287,097 shares of the energy company’s stock worth $436,000 after buying an additional 54,736 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Gevo during the 2nd quarter worth approximately $430,000. Finally, Royal Bank of Canada lifted its position in shares of Gevo by 201.1% during the 2nd quarter. Royal Bank of Canada now owns 37,396 shares of the energy company’s stock worth $56,000 after buying an additional 24,978 shares during the last quarter. Hedge funds and other institutional investors own 42.67% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company.
Insider Activity at Gevo
In related news, CEO Patrick R. Gruber sold 104,488 shares of Gevo stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $1.65, for a total value of $172,405.20. Following the completion of the transaction, the chief executive officer now owns 2,392,271 shares in the company, valued at $3,947,247.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Christopher Michael Ryan sold 36,551 shares of Gevo stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $1.65, for a total value of $60,309.15. Following the completion of the transaction, the chief operating officer now owns 1,012,059 shares in the company, valued at $1,669,897.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick R. Gruber sold 104,488 shares of Gevo stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $1.65, for a total transaction of $172,405.20. Following the completion of the transaction, the chief executive officer now owns 2,392,271 shares of the company’s stock, valued at approximately $3,947,247.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,908 shares of company stock worth $329,621. Corporate insiders own 3.55% of the company’s stock.
Gevo Company Profile
Gevo, Inc operates as a renewable fuels company. It operates through three segments: Gevo, Agri-Energy, and Renewable Natural Gas. The company offers renewable gasoline and diesel, isooctane, isobutanol, sustainable aviation fuel, renewable natural gas, isobutylene, ethanol, and animal feed and protein.
