Fervo Energy Company (NASDAQ:FRVO – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors bought 5,110 put options on the stock. This is an increase of approximately 208% compared to the average daily volume of 1,658 put options.
Hedge Funds Weigh In On Fervo Energy
A number of institutional investors and hedge funds have recently made changes to their positions in FRVO. AXQ Capital LP purchased a new stake in shares of Fervo Energy in the second quarter worth approximately $499,000. Ranger Investment Management L.P. purchased a new position in shares of Fervo Energy during the second quarter valued at approximately $1,455,000. Readystate Asset Management LP purchased a new position in shares of Fervo Energy during the second quarter valued at approximately $4,419,000. Resolute Advisors LLC bought a new stake in Fervo Energy during the second quarter worth $5,285,000. Finally, Value Aligned Research Advisors LLC bought a new stake in Fervo Energy during the second quarter worth $63,155,000.
Analyst Ratings Changes
A number of brokerages recently issued reports on FRVO. Royal Bank Of Canada reissued an “outperform” rating and issued a $46.00 target price on shares of Fervo Energy in a research report on Tuesday, June 23rd. Zacks Research raised shares of Fervo Energy to a “hold” rating in a research note on Tuesday, June 9th. Roth Capital started coverage on shares of Fervo Energy in a report on Thursday, June 11th. They issued a “buy” rating and a $45.00 price objective on the stock. UBS Group set a $48.00 price objective on shares of Fervo Energy in a research report on Wednesday, June 24th. Finally, Weiss Ratings assumed coverage on shares of Fervo Energy in a report on Tuesday, August 18th. They set a “sell (d)” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.
Fervo Energy Trading Down 5.2%
Shares of Fervo Energy stock traded down $0.85 on Wednesday, reaching $15.60. 1,154,484 shares of the stock were exchanged, compared to its average volume of 3,420,767. The firm’s 50 day simple moving average is $25.06. Fervo Energy has a one year low of $15.31 and a one year high of $42.65.
Fervo Energy (NASDAQ:FRVO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $0.11 million during the quarter. Research analysts forecast that Fervo Energy will post -0.42 earnings per share 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.
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