5 Best Penny Stocks To Invest In

2. Gevo, Inc. (NASDAQ:GEVO)

Share Price as of June 8: $3.0400

Number of Hedge Funds Holders: 7

Gevo, Inc. (NASDAQ:GEVO) is an Englewood, Colorado-based company operating in the renewable fuel segment.

Back in 2018, Gevo, Inc.’s (NASDAQ:GEVO) stock price was around $23. On June 7, the company revealed that it has agreed with Japan Airlines to sell 5.3 million sustainable aviation fuel (SAF) annually for five years. The deliveries are expected to start by 2027. The airline industry is working on reducing carbon emissions, and this will encourage the use of SAF by airliners. Gevo, Inc. (NASDAQ:GEVO) is targeting to replace 10% of aviation fuel with SAF by 2030 and make the airline industry a net-zero emission sector by 2050.

Gevo, Inc. (NASDAQ:GEVO) was held by 7 hedge funds as of Q1 2022.