Fervo Energy (NASDAQ:FRVO) Hits New 1-Year Low – Should You Sell?

Fervo Energy Company (NASDAQ:FRVO)’s share price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $9.36 and last traded at $9.46, with a volume of 474,551 shares. The stock had previously closed at $9.68.

Wall Street Analyst Weigh In

FRVO has been the subject of a number of analyst reports. Wolfe Research set a $29.00 price objective on shares of Fervo Energy and gave the company an “outperform” rating in a research report on Friday, September 25th. Robert W. Baird lowered their target price on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Barclays lifted their target price on Fervo Energy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $47.00 price target on shares of Fervo Energy in a research note on Friday, October 2nd. Finally, Johnson Rice assumed coverage on Fervo Energy in a report on Wednesday, September 23rd. They issued a “buy” rating and a $35.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.87.

Fervo Energy Price Performance

The company has a current ratio of 8.62, a quick ratio of 8.62 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $16.09. The company has a market capitalization of $2.71 billion and a price-to-earnings ratio of -2.24.

Fervo Energy (NASDAQ:FRVO) last issued its quarterly 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 company had revenue of $0.11 million for the quarter. Equities analysts predict that Fervo Energy Company will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sax Wealth Advisors LLC bought a new stake in shares of Fervo Energy in the 3rd quarter worth about $154,000. Corient Private Wealth LP acquired a new stake in shares of Fervo Energy in the 2nd quarter valued at about $229,000. Engineers Gate Manager LP bought a new position in shares of Fervo Energy during the second quarter worth about $272,000. AXQ Capital LP bought a new position in shares of Fervo Energy during the second quarter worth about $499,000. Finally, Viking Fund Management LLC bought a new position in shares of Fervo Energy during the third quarter worth about $815,000.

Fervo Energy Company Profile

Fervo Energy is a geothermal energy company focused on developing enhanced geothermal systems (EGS), which use horizontal drilling and hydraulic stimulation techniques to access heat in underground rock and produce electricity. Its approach is designed to expand geothermal generation beyond locations with naturally occurring conventional geothermal resources.

The company develops geothermal projects, including Project Red in northern Nevada and the larger Cape Station project in southwestern Utah.