12 Best Multibagger Penny Stocks to Buy Now

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9. Gevo Inc. (NASDAQ:GEVO)

Stock Performance Over Last Year: 132.28%

Number of Hedge Fund Holders: 7

Share Price as of February 5: $1.84

Gevo Inc. (NASDAQ:GEVO) creates renewable fuels and chemicals. They developed technology that allows them to produce eco-friendly alternatives to traditional fuels, such as renewable diesel, renewable gasoline, and sustainable aviation fuel (SAF).

Gevo, Inc. (NASDAQ:GEVO) is poised for growth through strategic acquisitions and technological advancements. In Q3, it completed a $210 million acquisition of Red Trail Energy’s ethanol plant and carbon capture assets, adding a 65 million gallons per year low-carbon ethanol plant and a CCS site capturing 160,000 metric tons of carbon annually. The newly renamed “Net-Zero North” facility is expected to contribute $30-60 million in annual adjusted EBITDA. This deal, funded through a combination of equity capital and a $105 million loan from Orion Infrastructure Capital, along with patents for its ethanol-to-olefin (ETO) process, has led analysts at H.C. Wainwright to maintain a Buy rating on the company’s shares with a $14 price target.

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