Fervo Energy Company (NASDAQ:FRVO) Receives Average Rating of “Moderate Buy” from Analysts

Fervo Energy Company (NASDAQ:FRVO) has received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $44.00.

FRVO has been the subject of a number of research reports. Barclays lifted their price objective on Fervo Energy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. HC Wainwright reaffirmed a “buy” rating on shares of Fervo Energy in a research note on Wednesday, May 27th. Jefferies Financial Group upgraded Fervo Energy from a “hold” rating to a “buy” rating and reduced their price target for the company from $41.00 to $34.00 in a report on Monday, July 20th. Weiss Ratings assumed coverage on Fervo Energy in a report on Tuesday. They issued a “sell (d)” rating on the stock. Finally, Wall Street Zen raised shares of Fervo Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th.

Fervo Energy Trading Down 4.7%

FRVO stock opened at $17.00 on Friday. The company’s 50 day moving average price is $26.17. Fervo Energy has a 52-week low of $16.69 and a 52-week high of $42.65.

Fervo Energy (NASDAQ:FRVO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.38) 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 research analysts anticipate that Fervo Energy will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Fervo Energy stock. Wellington Management Group LLP acquired a new position in Fervo Energy Company (NASDAQ:FRVO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,433,801 shares of the company’s stock, valued at approximately $129,600,000. Wellington Management Group LLP owned approximately 1.50% of Fervo Energy at the end of the most recent quarter.

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.