Readystate Asset Management LP Acquires New Shares in Fervo Energy Company $FRVO

Readystate Asset Management LP bought a new stake in Fervo Energy Company (NASDAQ:FRVO) during the second quarter, Holdings Channel.com reports. The firm bought 151,180 shares of the company’s stock, valued at approximately $4,419,000.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP bought a new stake in Fervo Energy in the 2nd quarter valued at about $129,600,000. Value Aligned Research Advisors LLC acquired a new stake in shares of Fervo Energy in the second quarter valued at approximately $63,155,000. Resolute Advisors LLC bought a new stake in shares of Fervo Energy during the second quarter valued at approximately $5,285,000. Ranger Investment Management L.P. acquired a new position in shares of Fervo Energy during the second quarter worth approximately $1,455,000. Finally, AXQ Capital LP bought a new position in Fervo Energy in the 2nd quarter worth approximately $499,000.

Analyst Upgrades and Downgrades

FRVO has been the subject of a number of analyst reports. Zacks Research upgraded Fervo Energy to a “hold” rating in a research report on Tuesday, June 9th. Barclays increased their target price 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. HC Wainwright reaffirmed a “buy” rating on shares of Fervo Energy in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Fervo Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 20th. Finally, William Blair began coverage on Fervo Energy in a report on Monday, June 8th. They set an “outperform” rating and a $43.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Fervo Energy Stock Performance

Shares of FRVO opened at $18.16 on Monday. The stock has a 50 day simple moving average of $22.30. Fervo Energy Company has a 12-month low of $14.60 and a 12-month high of $42.65.

Fervo Energy (NASDAQ:FRVO) last released 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 for the quarter. As a group, research analysts forecast that Fervo Energy Company will post -0.42 EPS for the current fiscal year.

Fervo Energy Profile

Fervo Energy Company is a geothermal energy developer, builds, owns and operates geothermal power facilities. Fervo Energy Company is based in Houston, Texas.