5 Best Green Energy Penny Stocks to Buy Now

2. Gevo, Inc. (NASDAQ:GEVO)

Number of hedge fund holders: 12

Gevo, Inc. (NASDAQ:GEVO) is a renewable chemicals and biofuel company.

In July 2022, Gevo, Inc. (NASDAQ:GEVO) signed a 5-year deal with American Airlines Group Inc. (NASDAQ:AAL) to provide 500 million gallons of aviation fuel over the next 5 years. Later in October, the company signed an agreement with Qatar Airways Partners to provide 25 million gallons of aviation fuel for the next 5 years. Finally, in November 2022, Gevo, Inc. (NASDAQ:GEVO) signed an agreement with Iberia Airlines to provide 6 million gallons of sustainable aviation fuel per year for 5 years starting in 2028.

On June 27, Stifel analyst Derrick Whitfield maintained a Buy rating on Gevo, Inc. (NASDAQ:GEVO)’s shares and lowered the price target to $2.70 from $3.

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