Fervo Energy (NASDAQ:FRVO – Get Free Report) was upgraded by research analysts at Johnson Rice to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.
A number of other research firms have also issued reports on FRVO. Wall Street Zen raised shares of Fervo Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. Roth Capital began coverage on shares of Fervo Energy in a research report on Thursday, June 11th. They issued a “buy” rating and a $45.00 target price for the company. Weiss Ratings initiated coverage on shares of Fervo Energy in a research note on Tuesday, August 18th. They set a “sell (d)” rating for the company. JPMorgan Chase & Co. began coverage on shares of Fervo Energy in a report on Monday, June 8th. They set an “overweight” rating and a $47.00 price target on the stock. Finally, Bank of America upgraded 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 report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $41.27.
Check Out Our Latest Stock Report on FRVO
Fervo Energy Trading Up 2.2%
Fervo Energy (NASDAQ:FRVO – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $0.11 million during the quarter. Sell-side analysts predict that Fervo Energy will post -0.48 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Value Aligned Research Advisors LLC bought a new position in Fervo Energy in the 2nd quarter worth $63,155,000. Squarepoint Ops LLC bought a new stake in Fervo Energy during the second quarter valued at about $12,423,000. Readystate Asset Management LP bought a new stake in Fervo Energy during the second quarter valued at about $4,419,000. Wellington Management Group LLP acquired a new stake in shares of Fervo Energy in the second quarter valued at about $129,600,000. Finally, Resolute Advisors LLC acquired a new stake in shares of Fervo Energy in the second quarter valued at about $5,285,000.
Key Stories Impacting Fervo Energy
Here are the key news stories impacting Fervo Energy this week:
- Positive Sentiment: Cape Station reached first power and connected its enhanced geothermal generation to the grid, providing tangible evidence that Fervo can move its technology from development toward commercial-scale operations. Fervo Energy Achieves First Power at Cape Station
- Positive Sentiment: The milestone improves the company’s growth narrative, as enhanced geothermal power offers around-the-clock, carbon-free electricity that could help meet rising U.S. power demand. Why Fervo Energy Stock Is Up Today
- Positive Sentiment: Sanford C. Bernstein reaffirmed its “outperform” rating and assigned a $47 price target, signaling substantial potential upside in the analyst’s view. Benzinga analyst report
- Neutral Sentiment: Reports cited September short-interest data showing no reported shares short and a zero-day short-interest ratio. This may limit the likelihood that short covering is driving the move, although the data itself does not change Fervo’s operating outlook.
- Negative Sentiment: Investors remain aware of a previously disclosed, temporary shutdown risk involving transmission infrastructure needed to deliver electricity from Cape Station. Any delay or curtailment could slow the project’s path to revenue and commercial scale. Fervo transmission curtailment report
Fervo Energy Company Profile
Fervo Energy is a geothermal energy company developing enhanced geothermal systems (EGS) designed to produce electricity from heat found deep underground. Its approach applies horizontal drilling, hydraulic stimulation and oil-and-gas well technologies to access geothermal resources in locations that may not have naturally permeable reservoirs.
The company develops geothermal projects and related drilling and reservoir-engineering technologies for utility-scale power generation. Fervo’s Project Red demonstration in northern Nevada has been used to validate its EGS approach, while the company is developing the larger Cape Station project in southwestern Utah.
Fervo Energy was founded in 2017 by Tim Latimer and Jamie Beard.
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