Fervo Energy Company (NASDAQ:FRVO) Receives Consensus Recommendation of “Buy” from Brokerages

Fervo Energy Company (NASDAQ:FRVO – Get Free Report) has earned an average rating of “Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $45.25.

FRVO has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Fervo Energy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Jefferies Financial Group upgraded Fervo Energy from a “hold” rating to a “buy” rating and dropped their price target for the stock from $41.00 to $34.00 in a research report on Monday, July 20th. Piper Sandler restated an “overweight” rating on shares of Fervo Energy in a research report on Tuesday, June 23rd. Wolfe Research initiated coverage on Fervo Energy in a research note on Monday, June 8th. They issued a “peer perform” rating for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Fervo Energy in a research report on Tuesday, June 23rd.

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Fervo Energy Stock Performance

Shares of FRVO stock opened at $24.00 on Monday. Fervo Energy has a 52 week low of $22.50 and a 52 week high of $42.65. The business has a fifty day moving average of $32.32.

Fervo Energy (NASDAQ:FRVO – Get Free Report) last released its quarterly earnings results on Monday, June 22nd. The company reported ($3.72) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($3.63). The business had revenue of $0.06 million during the quarter, compared to analyst estimates of $1.20 million.

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