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

Key Points

• Johnson Rice upgraded Fervo Energy to “strong-buy,” joining a broadly positive analyst consensus of “Buy.” The consensus price target is $41.27, well above the stock’s $16.71 opening price.
• Fervo reported a quarterly loss of $0.38 per share, missing the $0.09 consensus estimate, while revenue was just $0.11 million. Analysts expect a full-year loss of $0.48 per share.
• The company reached first power at its Cape Station enhanced-geothermal project, supporting its commercial growth story, though a previously disclosed transmission-infrastructure shutdown risk could delay revenue and scale-up.

Fervo Energy (NASDAQ:FRVO - Get Free Report) was upgraded by equities research analysts at Johnson Rice to a "strong-buy" rating in a research note issued to investors on Wednesday, Zacks reports.

A number of other equities research analysts have also recently issued reports on FRVO. Piper Sandler reiterated an "overweight" rating on shares of Fervo Energy in a research note on Tuesday, June 23rd. William Blair initiated coverage on shares of Fervo Energy in a research report on Monday, June 8th. They set an "outperform" rating and a $43.00 price target for the company. Bank of America raised shares of Fervo Energy from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $40.00 to $36.00 in a report on Friday, July 17th. HC Wainwright reissued a "buy" rating on shares of Fervo Energy in a research note on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Fervo Energy to a "hold" rating in a research report on Tuesday, June 9th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Fervo Energy presently has an average rating of "Buy" and a consensus price target of $41.27.

Fervo Energy Stock Performance

Shares of Fervo Energy stock opened at $16.71 on Wednesday. The business's 50 day moving average 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 - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.38) earnings per share (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. As a group, research analysts expect that Fervo Energy will post -0.48 EPS for the current year.

Hedge Funds Weigh In On Fervo Energy

Large investors have recently bought and sold shares of the stock. Corient Private Wealth LP bought a new stake in shares of Fervo Energy during the 2nd quarter worth about $229,000. Engineers Gate Manager LP acquired a new stake in shares of Fervo Energy in the 2nd quarter worth approximately $272,000. AXQ Capital LP bought a new position in shares of Fervo Energy in the second quarter valued at approximately $499,000. NewEdge Advisors LLC bought a new position in shares of Fervo Energy in the second quarter valued at approximately $1,245,000. Finally, Ranger Investment Management L.P. acquired a new position in shares of Fervo Energy during the second quarter valued at 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

Fervo Energy Company Profile

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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