Analysts have been keeping a close eye on the GEVO penny stock as of late. According to Findanews, “the one-year price forecast for GEVO stock indicates that the average analyst price target is $10 per share.”
Recently, GEVO (NASDAQ:GEVO) shares have been trading between $2.20 and $2.27 USD. Therefore, this stock has a potential increase ahead of 320% if it is to hit that price target. Of course, estimations can be way off in this game, but let’s see what else the market is saying about GEVO.
GEVO Penny Stock
Gevo Inc is a renewable chemicals and advanced biofuels company. Headquarter in Colorado, the company develops bio-based alternatives to petroleum-based products using a “combination of biotechnology and classical chemistry.”
Focusing on changing non-sustainable fuels across the world with renewable carbon alternatives, the GEVO penny stock could be a good choice for investors who see a lucrative future in the sustainable energy sector. The goal of this company is to “positively change the world” via its technologies.
>> RAD Stock Falls as Rite Aid Increases Minimum Age to Buy Tobacco
GEVO Stock
Thus far, 2019 has been a volatile year for these shares. But according to Postanalyst:
“GEVO’s mean recommendation on Reuter’s scale presents no change from 2 thirty days ago to 2 now, which indicates a hold consensus from the analyst community.”
With an average recommendation to hold, no one is quite giving up on this penny stock just yet. Shares climbed to highs of $2.88 USD in January, and have stagnated anywhere between that high and a low of $2.17 since. With shares constantly swapping hands, there is action happening, and a break out could easily be around the corner.
The company’s Q1 results for the quarter ending March 31st is expected on May 8th. In anticipation of these results, trading volume has dipped in recent days. Until investors hear good results on May 8th, prepare for further stagnation in the coming weeks.
Despite losing 24.13% over the last three months, analysts remain positive over the future fundamentals of GEVO Inc stock. It’s possible that this bullish sentiment is driven by the move to sustainable energy across all industry today.
Have you got your eye on the GEVO penny stock?
Featured Image: DepositPhotos © wrangler
