Fervo Energy Company (NASDAQ:FRVO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Fervo Energy Company (NASDAQ:FRVO) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, ten have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $44.00.

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Fervo Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. Roth Capital started coverage on Fervo Energy in a research note on Thursday, June 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating on shares of Fervo Energy in a research report on Tuesday, June 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $46.00 target price on shares of Fervo Energy in a report on Tuesday, June 23rd. Finally, Robert W. Baird decreased their price target on shares of Fervo Energy from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new position in Fervo Energy in the second quarter worth about $129,600,000. Value Aligned Research Advisors LLC purchased a new position in shares of Fervo Energy in the 2nd quarter worth approximately $63,155,000. Resolute Advisors LLC bought a new position in shares of Fervo Energy during the 2nd quarter valued at approximately $5,285,000. Readystate Asset Management LP bought a new position in shares of Fervo Energy during the 2nd quarter valued at approximately $4,419,000. Finally, Ranger Investment Management L.P. purchased a new stake in Fervo Energy during the 2nd quarter valued at $1,455,000.

Fervo Energy Trading Up 3.4%

FRVO stock opened at $15.96 on Friday. The stock has a fifty day moving average of $24.26. Fervo Energy has a one year low of $15.22 and a one 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 for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $0.11 million for the quarter. On average, equities research analysts predict that Fervo Energy will post -0.42 EPS for the current year.

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.