HC Wainwright analysts upgraded their outlook for biofuel producer Gevo Inc. (NASDAQ: GEVO) last week. In the past month, the stock gained 20.97%. In three months, it gained 392.11%. In six months, it gained 518.13%. During the past week, the volatility of GEVO was 13.35%, while it was 15.20% for a month.
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According to HC Wainwright analysts, analysts have affirmed their Buy rating for Gevo shares and elevated their price target from $ 5 to $ 18. To simplify the construction of the new Net-Zero 1 renewable energy project in South Dakota, experts say funding Gevo received in a $350 million stock offering at the end of January will assist in the company’s success.
With Net-Zero, renewable energy sources such as solar, wind, biogas, etc., are converted into liquid fuels. “Net-Zero 1” will be the first project of its kind in South Dakota. The first plant of Gevo will produce over 200 million litres of gasoline and jet fuel a year.
In the past 12 months, shares of Gevo have gained almost 500%. Several key factors drive growth, such as improved investor expectations after President Joe Biden’s election for renewable energy in the United States. By 2050, the Biden administration targets greenhouse gas emissions to be zero.
Frances Arnold, co-founder, and president of Gevo was appointed science advisor to US President Joe Biden and technologies in January 2021. Even though Arnold is no longer with Gevo, her new staff position is a credit to the company and will help it connect with the US President.