Shares of the biofuel producer closed up 123% to $5.46 in Thursday's regular trading session after Alaska Air Group (ALK) agreed to buy its renewable jet fuel, according to Bloomberg.
Yesterday's rally marked the biggest gain since the company's initial public offering in 2011.
Gevo CEO Pat Gruber said in a telephone interview, "If we're at full scale, we'd have the lowest-cost, renewable-resource-based jet fuel around," Bloomberg reports.
"It's just likes standard-performance kerosene, but our stuff generally burns way cleaner than petrochemical-based jet fuel," Gruber added.
About 20.19 million shares have exchanged hands, compared to its average trading volume of about 1.75 million shares a day.
Englewood, CO-based Gevo is a renewable chemicals and biofuels company that is focused on the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks.
Separately, TheStreet Ratings team rates GEVO INC as a Sell with a ratings score of E+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GEVO INC (GEVO) a SELL. This is based on several weak investment measures, which should drive this stock to significantly underperform the majority of stocks that we rate. The company's weaknesses can be seen in multiple areas, such as its poor profit margins and generally disappointing historical performance in the stock itself."