Wellington Management Group LLP purchased a new stake in Fervo Energy Company (NASDAQ:FRVO – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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 as of its most recent SEC filing.
Separately, Ranger Investment Management L.P. bought a new position in Fervo Energy in the 2nd quarter valued at $1,455,000.
Wall Street Analysts Forecast Growth
FRVO has been the topic of a number of recent analyst reports. Roth Capital initiated coverage on Fervo Energy in a research note on Thursday, June 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Robert W. Baird cut their price target on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. HC Wainwright reaffirmed a “buy” rating on shares of Fervo Energy in a research note on Wednesday, May 27th. Wolfe Research initiated coverage on shares of Fervo Energy in a research report on Monday, June 8th. They set a “peer perform” rating on the stock. Finally, Jefferies Financial Group raised shares of Fervo Energy from a “hold” rating to a “buy” rating and decreased their price target for the company from $41.00 to $34.00 in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.
Fervo Energy Stock Up 28.4%
FRVO opened at $19.75 on Wednesday. The business’s 50 day simple moving average is $23.17. Fervo Energy Company has a fifty-two week low of $14.60 and a fifty-two week high of $42.65.
Fervo Energy (NASDAQ:FRVO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $0.11 million for the quarter. On average, equities research analysts anticipate that Fervo Energy Company will post -0.42 earnings per share for the current fiscal year.
Key Stories Impacting Fervo Energy
Here are the key news stories impacting Fervo Energy this week:
- Positive Sentiment: Largest geothermal contract to date: Fervo signed a 396-megawatt power purchase agreement with Google to support continued development of its Cape Station enhanced geothermal project in Utah. The facility is expected to begin operations in 2028. The deal provides commercial validation for Fervo’s ability to supply 24/7 carbon-free electricity to power data centers. Fervo Energy and Google Sign 396 MW PPA
- Positive Sentiment: The agreement converts part of Fervo’s previously announced potential 3-gigawatt Google framework into a defined power sale. Investors viewed the contract as a potential path toward future Cape Station revenue and evidence that rising data-center power demand could accelerate geothermal adoption. Fervo Energy signs its largest geothermal power deal with Google
- Positive Sentiment: Trading activity was unusually strong, with reported call-option volume substantially above average. The speculative activity likely amplified the positive reaction to the Google announcement, though it does not guarantee sustained demand for the shares.
- Neutral Sentiment: Analyst coverage remains favorable, with several firms maintaining buy-equivalent ratings and a median reported price target well above the recent trading range. Institutional ownership data also showed significant purchases in the second quarter, although these figures may reflect post-IPO portfolio establishment rather than new conviction.
- Negative Sentiment: Fervo’s IPO lock-up period is scheduled to expire on November 9. Restrictions will then be lifted on approximately 70 million IPO shares held by insiders and other early investors, potentially increasing selling pressure and stock volatility.
- Negative Sentiment: Investors continue to monitor a planned temporary shutdown of transmission infrastructure used by Cape Station. The issue could delay or constrain electricity deliveries and adds execution risk to the project, despite the new Google contract. Fervo Energy Faces Investor Scrutiny Amid Transmission Curtailment Revelation
Fervo Energy Profile
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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