Readystate Asset Management LP Takes Position in Fervo Energy Company $FRVO

Readystate Asset Management LP bought a new position in shares of Fervo Energy Company (NASDAQ:FRVO) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 151,180 shares of the company’s stock, valued at approximately $4,419,000. Readystate Asset Management LP owned 0.05% of Fervo Energy as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FRVO. Wellington Management Group LLP acquired a new position in Fervo Energy during the second quarter valued at approximately $129,600,000. Value Aligned Research Advisors LLC acquired a new stake in shares of Fervo Energy in the second quarter worth $63,155,000. Resolute Advisors LLC purchased a new position in shares of Fervo Energy in the 2nd quarter valued at $5,285,000. Ranger Investment Management L.P. purchased a new position in shares of Fervo Energy in the 2nd quarter valued at $1,455,000. Finally, AXQ Capital LP acquired a new position in shares of Fervo Energy during the 2nd quarter valued at $499,000.

Fervo Energy Stock Performance

NASDAQ:FRVO opened at $18.16 on Monday. Fervo Energy Company has a 52 week low of $14.60 and a 52 week high of $42.65. The business’s 50 day moving average price is $22.30.

Fervo Energy (NASDAQ:FRVO) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $0.11 million during the quarter. On average, research analysts forecast that Fervo Energy Company will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FRVO. Zacks Research raised shares of Fervo Energy to a “hold” rating in a research report on Tuesday, June 9th. UBS Group set a $48.00 price objective on Fervo Energy in a research note on Wednesday, June 24th. Weiss Ratings initiated coverage on Fervo Energy in a research report on Tuesday, August 18th. They issued a “sell (d)” rating for the company. Bank of America upgraded Fervo Energy from a “neutral” rating to a “buy” rating and dropped their target price for the company from $40.00 to $36.00 in a report on Friday, July 17th. Finally, Piper Sandler reissued an “overweight” rating on shares of Fervo Energy in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Fervo Energy has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Fervo Energy Company Profile

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