Fervo Energy (NASDAQ:FRVO) Reaches New 1-Year Low – Time to Sell?
by Sarita Garza · The Markets DailyFervo Energy Company (NASDAQ:FRVO – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.26 and last traded at $15.31, with a volume of 2046764 shares. The stock had previously closed at $16.45.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on FRVO shares. Guggenheim raised Fervo Energy to a “strong-buy” rating and set a $48.00 target price on the stock in a research note on Monday, June 8th. JPMorgan Chase & Co. began coverage on shares of Fervo Energy in a research note on Monday, June 8th. They set an “overweight” rating and a $47.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of Fervo Energy in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $47.00 price target on the stock. Roth Capital assumed coverage on shares of Fervo Energy in a research report on Thursday, June 11th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, UBS Group set a $48.00 target price on Fervo Energy in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.
View Our Latest Analysis on FRVO
Fervo Energy Stock Down 7.1%
The company’s fifty day moving average is $25.06.
Fervo Energy (NASDAQ:FRVO – Get Free Report) last posted its quarterly earnings results 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 for the quarter. On average, equities research analysts anticipate that Fervo Energy Company will post -0.42 earnings per share for the current year.
Hedge Funds Weigh In On Fervo Energy
Institutional investors and hedge funds have recently made changes to their positions in the stock. AXQ Capital LP acquired a new position in shares of Fervo Energy during the second quarter worth approximately $499,000. Ranger Investment Management L.P. bought a new position in shares of Fervo Energy during the second quarter valued at about $1,455,000. Readystate Asset Management LP bought a new position in shares of Fervo Energy in the second quarter valued at approximately $4,419,000. Resolute Advisors LLC purchased a new stake in shares of Fervo Energy during the second quarter valued at approximately $5,285,000. Finally, Value Aligned Research Advisors LLC bought a new stake in Fervo Energy during the second quarter worth $63,155,000.
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.