Fervo Energy Company (NASDAQ:FRVO) Receives Consensus Rating of “Moderate Buy” from Analysts

Fervo Energy Company (NASDAQ:FRVO) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned 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 brokers that have covered the stock in the last year is $44.00.

A number of brokerages recently commented on FRVO. JPMorgan Chase & Co. initiated coverage on shares of Fervo Energy in a research report on Monday, June 8th. They issued an “overweight” rating and a $47.00 price objective for the company. Guggenheim raised shares of Fervo Energy to a “strong-buy” rating and set a $48.00 price target on the stock in a research note on Monday, June 8th. Jefferies Financial Group upgraded shares of Fervo Energy from a “hold” rating to a “buy” rating and cut their price objective for the stock from $41.00 to $34.00 in a report on Monday, July 20th. UBS Group set a $48.00 price objective on Fervo Energy in a report on Wednesday, June 24th. Finally, Robert W. Baird reduced their price objective on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th.

Hedge Funds Weigh In On Fervo Energy

An institutional investor recently bought a new position in Fervo Energy stock. Ranger Investment Management L.P. purchased a new stake in shares of Fervo Energy Company (NASDAQ:FRVO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 49,772 shares of the company’s stock, valued at approximately $1,455,000.

Fervo Energy Stock Down 4.7%

Shares of FRVO stock opened at $17.00 on Friday. Fervo Energy has a 1-year low of $16.69 and a 1-year high of $42.65. The stock’s 50-day moving average is $26.17.

Fervo Energy (NASDAQ:FRVO) 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. Equities research analysts anticipate that Fervo Energy will post -0.42 earnings per share for the current fiscal year.

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.