Fervo Energy Company $FRVO Shares Purchased by Robeco Schweiz AG

Robeco Schweiz AG raised its stake in shares of Fervo Energy Company (NASDAQ:FRVO) by 66.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,282,928 shares of the company’s stock after buying an additional 1,313,704 shares during the quarter. Robeco Schweiz AG’s holdings in Fervo Energy were worth $44,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Sterling Capital Management LLC purchased a new position in Fervo Energy during the third quarter valued at $27,000. Signaturefd LLC increased its holdings in Fervo Energy by 175.0% in the 3rd quarter. Signaturefd LLC now owns 2,200 shares of the company’s stock valued at $30,000 after acquiring an additional 1,400 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Fervo Energy by 387.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,512 shares of the company’s stock worth $61,000 after purchasing an additional 3,586 shares in the last quarter. Sax Wealth Advisors LLC purchased a new stake in Fervo Energy in the 3rd quarter worth $154,000. Finally, Corient Private Wealth LP purchased a new stake in Fervo Energy in the 2nd quarter worth $229,000.

Fervo Energy Stock Performance

Shares of FRVO opened at $8.04 on Friday. The stock has a fifty day simple moving average of $14.79. Fervo Energy Company has a fifty-two week low of $7.83 and a fifty-two week high of $42.65. The company has a market capitalization of $2.37 billion and a PE ratio of -1.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.62 and a quick ratio of 8.62.

Fervo Energy (NASDAQ:FRVO) last released 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. As a group, research analysts forecast that Fervo Energy Company will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

FRVO has been the subject of a number of research analyst reports. Sanford C. Bernstein restated an “outperform” rating and set a $47.00 price objective on shares of Fervo Energy in a research report on Friday, October 2nd. Weiss Ratings began coverage on Fervo Energy in a research report on Tuesday, August 18th. They issued a “sell (d)” rating on the stock. Robert W. Baird decreased their target price on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Northland Securities initiated coverage on Fervo Energy in a research note on Thursday, September 10th. They set an “outperform” rating and a $27.00 price target for the company. Finally, Jefferies Financial Group upgraded Fervo Energy from a “hold” rating to a “buy” rating and cut their price target for the company from $41.00 to $34.00 in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fervo Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.53.

Fervo Energy Company Profile

Fervo Energy is a geothermal energy company developing enhanced geothermal systems designed to generate electricity from heat found deep beneath the earth’s surface. The company applies techniques adapted from the oil and gas industry, including horizontal drilling and hydraulic stimulation, to create engineered geothermal reservoirs in areas where conventional geothermal resources may not be available.

Founded in 2017, Fervo combines advanced drilling, distributed fiber-optic sensing and reservoir engineering to evaluate and operate geothermal projects.