Fervo Energy Company (NASDAQ:FRVO – Get Free Report) shares hit a new 52-week low on Wednesday . The company traded as low as $15.26 and last traded at $15.31, with a volume of 2046764 shares changing hands. The stock had previously closed at $16.45.
Analysts Set New Price Targets
Several research firms have weighed in on FRVO. Jefferies Financial Group upgraded Fervo Energy from a “hold” rating to a “buy” rating and dropped their price target for the company from $41.00 to $34.00 in a research note on Monday, July 20th. Bank of America upgraded shares of Fervo Energy from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $40.00 to $36.00 in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Fervo Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. Wolfe Research assumed coverage on shares of Fervo Energy in a report on Monday, June 8th. They issued a “peer perform” rating on the stock. Finally, Barclays raised their price target on shares of Fervo Energy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.
View Our Latest Stock Analysis on FRVO
Fervo Energy Price Performance
Fervo Energy (NASDAQ:FRVO – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $0.11 million during the quarter. Analysts expect that Fervo Energy Company will post -0.42 EPS for the current year.
Institutional Trading of Fervo Energy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ranger Investment Management L.P. acquired a new position in Fervo Energy during the 2nd quarter valued at about $1,455,000. Wellington Management Group LLP acquired a new position in Fervo Energy in the second quarter valued at approximately $129,600,000. Resolute Advisors LLC acquired a new position in Fervo Energy in the second quarter valued at approximately $5,285,000. AXQ Capital LP bought a new position in Fervo Energy in the second quarter valued at approximately $499,000. Finally, Value Aligned Research Advisors LLC acquired a new stake in Fervo Energy during the 2nd quarter worth $63,155,000.
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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