Robert W. Baird Cuts Fervo Energy (NASDAQ:FRVO) Price Target to $35.00

Fervo Energy (NASDAQ:FRVO) had its target price cut by Robert W. Baird from $50.00 to $35.00 in a report published on Thursday morning, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently weighed in on FRVO. HC Wainwright reaffirmed a “buy” rating on shares of Fervo Energy in a report on Wednesday, May 27th. Wolfe Research started coverage on Fervo Energy in a research note on Monday, June 8th. They issued a “peer perform” rating on the stock. Jefferies Financial Group upgraded Fervo Energy from a “hold” rating to a “buy” rating and decreased their target price for the stock from $41.00 to $34.00 in a report on Monday, July 20th. Wall Street Zen upgraded Fervo Energy from a “strong sell” rating to a “sell” rating in a report on Monday, July 20th. Finally, Zacks Research upgraded Fervo Energy to a “hold” rating in a research note on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Fervo Energy has an average rating of “Buy” and an average price target of $44.00.

Fervo Energy Trading Down 2.8%

Shares of Fervo Energy stock opened at $19.76 on Thursday. The business’s 50-day moving average price is $27.46. Fervo Energy has a 1-year low of $16.89 and a 1-year high of $42.65.

Fervo Energy (NASDAQ:FRVO) last posted its earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $0.11 million for the quarter. As a group, equities analysts anticipate that Fervo Energy will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Fervo Energy stock. Ranger Investment Management L.P. bought a new stake in Fervo Energy Company (NASDAQ:FRVO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 49,772 shares of the company’s stock, valued at approximately $1,455,000.

About Fervo Energy

Fervo Energy Company is a geothermal energy developer, builds, owns and operates geothermal power facilities. Fervo Energy Company is based in Houston, Texas.