Johnson Rice Upgrades Fervo Energy (NASDAQ:FRVO) to Strong-Buy

Fervo Energy (NASDAQ:FRVO) was upgraded by investment analysts at Johnson Rice to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

A number of other research analysts also recently commented on the company. Wall Street Zen raised shares of Fervo Energy from a “strong sell” rating to a “sell” rating in a report on Monday, July 20th. Weiss Ratings started coverage on shares of Fervo Energy in a research report on Tuesday, August 18th. They set a “sell (d)” rating for the company. Jefferies Financial Group upgraded shares of Fervo Energy from a “hold” rating to a “buy” rating and reduced their target price for the stock from $41.00 to $34.00 in a report on Monday, July 20th. Robert W. Baird dropped their price target on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Finally, Guggenheim upgraded Fervo Energy to a “strong-buy” rating and set a $48.00 price objective on the stock in a research report on Monday, June 8th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fervo Energy currently has a consensus rating of “Buy” and a consensus target price of $40.87.

Fervo Energy Stock Up 2.2%

Shares of Fervo Energy stock opened at $16.71 on Wednesday. The firm’s 50-day moving average price is $19.44. Fervo Energy has a twelve month low of $14.60 and a twelve month high of $42.65.

Fervo Energy (NASDAQ:FRVO) last posted its earnings results on Wednesday, August 12th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The company had revenue of $0.11 million during the quarter. Analysts anticipate that Fervo Energy will post -0.48 earnings per share for the current fiscal year.

Institutional Trading of Fervo Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRVO. Corient Private Wealth LP purchased a new stake in Fervo Energy in the 2nd quarter worth about $229,000. Engineers Gate Manager LP purchased a new position in shares of Fervo Energy during the second quarter valued at approximately $272,000. AXQ Capital LP bought a new position in shares of Fervo Energy during the second quarter valued at approximately $499,000. NewEdge Advisors LLC bought a new position in shares of Fervo Energy during the second quarter valued at approximately $1,245,000. Finally, Ranger Investment Management L.P. purchased a new stake in shares of Fervo Energy in the second quarter worth approximately $1,455,000.

Trending Headlines about 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

About Fervo Energy

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.