Bank of America Corp DE Increases Stake in Gevo, Inc. $GEVO

Key Points

• Bank of America increased its Gevo stake by 166.1% in the first quarter, purchasing 1.36 million additional shares for a total of 2.19 million shares valued at approximately $5.97 million. Institutional investors collectively own 35.17% of Gevo.
• Analyst sentiment remains cautious, with Gevo carrying an average “Hold” rating and an average price target of $2.55. Recent coverage includes “sell,” “hold,” and “neutral” ratings, although Northland Securities set a higher $3.75 target.
• Gevo reported quarterly revenue of $46.5 million and an adjusted loss of $0.01 per share, beating analyst expectations, but remains unprofitable. Insider activity was mixed: the CEO sold shares under a tax-related trading plan, while a director purchased 50,000 shares.

Bank of America Corp DE grew its holdings in shares of Gevo, Inc. (NASDAQ:GEVO - Free Report) by 166.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,186,704 shares of the energy company's stock after purchasing an additional 1,364,924 shares during the quarter. Bank of America Corp DE owned approximately 0.90% of Gevo worth $5,970,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Gevo during the first quarter worth about $28,000. Franklin Resources Inc. purchased a new position in Gevo in the 4th quarter worth approximately $28,000. Mackenzie Financial Corp purchased a new position in Gevo in the 3rd quarter worth approximately $29,000. Cibc World Markets Corp acquired a new position in shares of Gevo during the 4th quarter worth approximately $31,000. Finally, Sigma Planning Corp acquired a new position in shares of Gevo during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 35.17% of the company's stock.

Analyst Upgrades and Downgrades

GEVO has been the subject of several recent research reports. Wall Street Zen raised Gevo from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Northland Securities set a $3.75 price objective on Gevo in a research note on Thursday, July 16th. UBS Group restated a "neutral" rating and issued a $2.00 target price (down from $2.25) on shares of Gevo in a report on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Gevo in a research note on Friday, July 17th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $1.90 price target on shares of Gevo in a report on Friday, August 14th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $2.55.

Insiders Place Their Bets

In other Gevo news, CEO Paul D. Bloom sold 31,096 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $1.55, for a total transaction of $48,198.80. Following the sale, the chief executive officer directly owned 1,452,303 shares in the company, valued at $2,251,069.65. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James J. Barber purchased 50,000 shares of Gevo stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of $1.54 per share, for a total transaction of $77,000.00. Following the transaction, the director directly owned 120,000 shares of the company's stock, valued at approximately $184,800. This represents a 71.43% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 627,400 shares of company stock valued at $917,343. Insiders own 7.09% of the company's stock.

Gevo Stock Performance

Shares of GEVO stock opened at $1.65 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.19 and a current ratio of 2.70. The firm has a market cap of $407.95 million, a P/E ratio of -1.85 and a beta of 1.04. The firm's 50 day moving average price is $1.54 and its 200-day moving average price is $1.79. Gevo, Inc. has a one year low of $1.37 and a one year high of $2.97.

Gevo (NASDAQ:GEVO - Get Free Report) last posted its earnings results on Thursday, August 6th. The energy company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Gevo had a negative net margin of 119.93% and a negative return on equity of 6.50%. The firm had revenue of $46.50 million during the quarter, compared to the consensus estimate of $46.40 million. As a group, equities research analysts predict that Gevo, Inc. will post -0.37 EPS for the current year.

About Gevo

Gevo, Inc NASDAQ: GEVO is a renewable chemicals and biofuels company that develops and produces low-carbon alternatives to petroleum-based products. The company's core technology platform converts fermentable sugars into isobutanol, which can be further processed into sustainable aviation fuel (SAF), renewable gasoline, diesel, and jet fuel. Gevo's integrated biorefinery model combines fermentation, recovery, and downstream processing to deliver scalable, drop-in replacements for conventional fossil-derived hydrocarbons.

Gevo's primary products include isobutanol, a four-carbon alcohol used as a building block for various fuels and chemicals, and hydrocarbon fuels that meet ASTM specifications for aviation and road transport.

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