Fervo Energy Company (NASDAQ:FRVO – Get Free Report)’s share price was down 5.3% on Thursday . The company traded as low as $16.31 and last traded at $16.33. 1,064,842 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,194,798 shares. The stock had previously closed at $17.24.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on FRVO shares. UBS Group set a $48.00 target price on Fervo Energy in a research report on Wednesday, June 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of Fervo Energy in a research note on Tuesday, June 23rd. Barclays increased their price objective on Fervo Energy from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Weiss Ratings assumed coverage on Fervo Energy in a research note on Tuesday, August 18th. They issued a “sell (d)” rating for the company. Finally, HC Wainwright reiterated a “buy” rating on shares of Fervo Energy in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.69.
View Our Latest Report on FRVO
Fervo Energy Price Performance
Fervo Energy (NASDAQ:FRVO – Get Free Report) last posted its 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 company had revenue of $0.11 million during the quarter. On average, analysts expect that Fervo Energy Company will post -0.42 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP bought a new stake in Fervo Energy during the second quarter valued at approximately $129,600,000. Value Aligned Research Advisors LLC bought a new position in shares of Fervo Energy in the 2nd quarter worth $63,155,000. Squarepoint Ops LLC purchased a new stake in shares of Fervo Energy during the 2nd quarter valued at $12,423,000. Resolute Advisors LLC purchased a new stake in shares of Fervo Energy during the 2nd quarter valued at $5,285,000. Finally, Readystate Asset Management LP bought a new stake in shares of Fervo Energy during the 2nd quarter worth $4,419,000.
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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