After hitting a high of $2.49 USD on April 11th, GEVO stock has been on the decline. Now, in the first week of May, a brief respite is appearing with shares gaining 4% over the weekend. Is this the beginning of a forecasted climb for GEVO Inc (NASDAQ:GEVO)?
With several analysts upgrading GEVO stock in recent weeks, this could be the beginning of the upswing.
GEVO Stock: Upswing Potential
At the time of writing, GEVO stock is selling for $2.12 USD on the NASDAQ exchange. But what does $2.12 get you?
The Colorado-based company describes itself as a renewable chemical and advanced biofuels company. It develops bio-based alternatives to petroleum-based products using a “combination of biotechnology and classical chemistry.”
With a focus on substituting non-sustainable fuels with renewable carbon alternatives, GEVO stock could be on the right side of a global movement in sustainability. As such, a potentially lucrative future lies in wait because the “right business” is important, but the right business at the right time is the game changer.
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Does aiming to “positively change the world” via its technologies make GEVO stock an undervalued play?
Analysts Weigh In
With the company’s earnings report expected on May 8th, all eyes are on GEVO stock. Recently, sentiment has been favorable as several analysts have upgraded their stock rating. In early April, Zacks Investment Research upgraded shares from a “hold” rating to a “buy” rating and set a $2.50 price target. HC Wainwright also issued a “Buy” rating for the company in late March. It set a whopping price target of $10.00 on GEVO stock—a potential increase of roughly 320% from current prices.
The Takeaway
Dubbed a “next generation biofuels company” by FIDaily, GEVO stock is a potential long-term play. Investors who aren’t afraid of a little volatility and see the sustainability sector as the next big win should keep their eyes on GEVO shares.
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