Gevo Inc [NASDAQ: GEVO] price plunged by -5.13 percent to reach at -$0.04. The company report on April 1, 2024 at 4:00 PM that Gevo RNG Subsidiary Successfully Remarkets Its Tax-Exempt Green Bonds.
The Bonds were initially issued by the Iowa Finance Authority on April 15, 2021 in a public offering for the benefit of Gevo RNG and for an initial term rate period ending March 31, 2024. The Bonds were issued in the aggregate principal amount of approximately $68.2 million with an interest rate of 1.5% and were secured by an irrevocable direct pay letter of credit for $71.2 million. On April 1, 2024 (the “Conversion Date”), the Bonds became subject to mandatory tender for purchase and have been remarketed to bear interest at 3.875% for a new term rate period ending March 31, 2026. The remarketed bonds are secured by an irrevocable direct pay letter of credit for approximately $69.6 million. Gevo’s reimbursement obligations with respect to the letter of credit are fully cash collateralized. Gevo expects that the interest income on cash collateral will be greater than the interest expense on the Bonds, resulting in positive contribution to cash flow over the next twelve months.
The one-year GEVO stock forecast points to a potential upside of 83.63. The average equity rating for GEVO stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Gevo Inc [GEVO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GEVO shares is $4.46 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GEVO stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Northland Capital have made an estimate for Gevo Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 21, 2023. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on December 14, 2022, representing the official price target for Gevo Inc stock. Previously, the target price had yet another raise to $2.30, while Jefferies analysts kept a Hold rating on GEVO stock.
The Average True Range (ATR) for Gevo Inc is set at 0.06, with the Price to Sales ratio for GEVO stock in the period of the last 12 months amounting to 10.20. The Price to Book ratio for the last quarter was 0.31, with the Price to Cash per share for the same quarter was set at 1.56.
GEVO Stock Performance Analysis:
Gevo Inc [GEVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.50. With this latest performance, GEVO shares dropped by -18.20% in over the last four-week period, additionally sinking by -37.67% over the last 6 months – not to mention a drop of -53.25% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GEVO stock in for the last two-week period is set at 47.76, with the RSI for the last a single of trading hit 52.27, and the three-weeks RSI is set at 45.49 for Gevo Inc [GEVO]. The present Moving Average for the last 50 days of trading for this stock 0.8266, while it was recorded at 0.6922 for the last single week of trading, and 1.1795 for the last 200 days.
Insight into Gevo Inc Fundamentals:
Gevo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.18 and a Current Ratio set at 4.23.
GEVO Stock EPS
With the latest financial reports released by the company, Gevo Inc posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GEVO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Gevo Inc go to 25.00%.
Gevo Inc [GEVO] Institutonal Ownership Details
The top three institutional holders of GEVO stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GEVO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GEVO stock with ownership which is approximately 5.8386%.
