Fervo Energy (NASDAQ:FRVO) Upgraded at Bank of America

Bank of America upgraded shares of Fervo Energy (NASDAQ:FRVO) from a neutral rating to a buy rating in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has $36.00 price target on the stock, down from their previous price target of $40.00.

Several other equities analysts have also issued reports on FRVO. Piper Sandler reiterated an “overweight” rating on shares of Fervo Energy in a research note on Tuesday, June 23rd. Robert W. Baird boosted their price target on Fervo Energy from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Jefferies Financial Group assumed coverage on Fervo Energy in a research report on Wednesday, May 27th. They set a “hold” rating and a $42.00 price objective for the company. Barclays raised their price objective on Fervo Energy from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, Wolfe Research initiated coverage on Fervo Energy in a research report on Monday, June 8th. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Fervo Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.92.

Fervo Energy Stock Performance

NASDAQ FRVO opened at $24.65 on Friday. The stock’s 50 day moving average price is $33.40. Fervo Energy has a 1 year low of $22.50 and a 1 year high of $42.65.

Fervo Energy (NASDAQ:FRVO) last announced its quarterly earnings data on Monday, June 22nd. The company reported ($3.72) EPS for the quarter, missing the consensus estimate of ($0.09) by ($3.63). The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $1.20 million.