Fervo Energy (NASDAQ:FRVO) Stock Rating Raised to Strong-Buy at Johnson Rice

by · The Markets Daily

Johnson Rice upgraded shares of Fervo Energy (NASDAQ:FRVO – Free Report) to a strong-buy rating in a research note released on Wednesday,Zacks reports.

A number of other brokerages have also commented on FRVO. Royal Bank Of Canada restated an “outperform” rating and set a $46.00 price objective on shares of Fervo Energy in a research report on Tuesday, June 23rd. Jefferies Financial Group raised shares of Fervo Energy from a “hold” rating to a “buy” rating and lowered their price objective for the company from $41.00 to $34.00 in a research report on Monday, July 20th. Wolfe Research set a $29.00 target price on shares of Fervo Energy and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird decreased their target price on shares of Fervo Energy from $50.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. started coverage on shares of Fervo Energy in a research note on Monday, June 8th. They issued an “overweight” rating and a $47.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $40.87.

View Our Latest Analysis on Fervo Energy

Fervo Energy Trading Up 2.2%

Shares of Fervo Energy stock opened at $16.71 on Wednesday. Fervo Energy has a 12-month low of $14.60 and a 12-month high of $42.65. The stock’s fifty day moving average is $19.44.

Fervo Energy (NASDAQ:FRVO – Get Free Report) last announced 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 business had revenue of $0.11 million for the quarter. Equities research analysts predict that Fervo Energy will post -0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Fervo Energy during the 2nd quarter worth about $129,600,000. Value Aligned Research Advisors LLC bought a new stake in shares of Fervo Energy in the 2nd quarter valued at approximately $63,155,000. Squarepoint Ops LLC bought a new position in shares of Fervo Energy during the 2nd quarter worth approximately $12,423,000. State Street Corp bought a new position in Fervo Energy during the 2nd quarter valued at about $10,028,000. Finally, Resolute Advisors LLC bought a new stake in Fervo Energy during the 2nd quarter worth approximately $5,285,000.

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

Fervo Energy Company Profile

(Get Free Report)

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.

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