Boston, MA 02/07/2013 (wallstreetpr) – Gevo, Inc. (NASDAQ:GEVO) acquired recently the patent on the process used for the production of isobutanol and this was seconded by the judge and the jury in a case earlier this year. Furthermore, in mid-June 2013, the company restarted its production activities at the plant located in Minnesota.
The company-wide production activities came to a sudden halt for Gevo, Inc. (NASDAQ:GEVO) in the previous quarter of the fiscal year, primarily due to technical reasons. The restart of production at the Minnesota plant in fact proved to be a big boost for the company and its shareholders. Gevo, Inc. (NASDAQ:GEVO) plans to completely restart its production activities in all the plants by the year 2014.
Shares of Gevo, Inc. (NASDAQ:GEVO) increased by 5.42 percent to close at $2.14 on Monday. The shares recorded an intraday high of $2.20 per share and an intraday low of $2.01 per share during the day. During the last trading session, shares of Gevo, Inc. (NASDAQ:GEVO) had a 52-week high of $6.90 and a 52-week low price of $1.36 per share.
Gevo, Inc. (NASDAQ:GEVO) was trading at very high volumes, namely at 1.42 million shares on Monday, while the average level of trading in the company is only 1.06 million shares per day. With 41.06 million shares outstanding in the market, Gevo, Inc. (NASDAQ:GEVO) has currently a market cap of $87.87 Million and an institutional ownership of 62 percent of total share capital.
Gevo, Inc. (NASDAQ:GEVO) is primarily engaged in the production and sales of renewable chemicals and advanced biofuels to be used as alternatives to the petroleum based products. The company operates its business through two major segments, namely the Gevo Inc Segment and the Gevo Development / Agri Energy Segment.