Fervo Energy Company (NASDAQ:FRVO) Stock Has Consensus Price Target of $38.50

Key Points

• Analysts rate Fervo Energy “Moderate Buy,” with 14 buy and two strong-buy recommendations among 18 covering firms; the average 12-month price target is $38.50.
• Recent analyst views vary: Robert W. Baird cut its target to $35 and Bank of America lowered its target to $30, while Wolfe Research upgraded the stock to “outperform” with a $29 target.
• Fervo reported a quarterly loss of $0.38 per share, missing the $0.09 loss analysts expected, and revenue of just $0.11 million. Shares opened at $9.32, well below their 12-month high of $42.65.

Shares of Fervo Energy Company (NASDAQ:FRVO - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eighteen research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, fourteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $38.50.

A number of equities research analysts have issued reports on FRVO shares. Robert W. Baird reduced their price objective on shares of Fervo Energy from $50.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, August 13th. Weiss Ratings started coverage on Fervo Energy in a research note on Tuesday, August 18th. They issued a "sell (d)" rating for the company. Wolfe Research raised Fervo Energy from a "peer perform" rating to an "outperform" rating and set a $29.00 price target for the company in a research note on Friday, September 25th. Bank of America lowered their price objective on Fervo Energy from $36.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, September 25th. Finally, Northland Securities initiated coverage on Fervo Energy in a research note on Thursday, September 10th. They issued an "outperform" rating and a $27.00 price objective on the stock.

Fervo Energy Stock Up 13.0%

FRVO stock opened at $9.32 on Wednesday. The company has a market capitalization of $2.75 billion and a P/E ratio of -2.27. Fervo Energy has a twelve month low of $7.72 and a twelve month high of $42.65. The company has a 50 day moving average of $13.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.62 and a current ratio of 8.62.

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 the consensus estimate of ($0.09) by ($0.29). The business had revenue of $0.11 million during the quarter. On average, equities research analysts anticipate that Fervo Energy will post -0.58 EPS for the current fiscal year.

More Fervo Energy News

Here are the key news stories impacting Fervo Energy this week:

• Positive Sentiment: A report says Morgan Stanley sees about 150% upside, offering a bullish counterpoint to the short report that contributed to a steep decline in Fervo shares over the past month. Fervo Energy Lost 36% in a Month on a Short Report. Morgan Stanley Sees 150% Upside
• Positive Sentiment: Investors bought 18,524 call options on Tuesday, over three times the average volume. That may signal increased bullish positioning, though options activity is not a guarantee of share gains.
• Positive Sentiment: Growing interest in geothermal power as a potential source of electricity for AI-related demand could benefit the sector and Fervo if the company can convert that interest into projects and revenue. Geothermal energy looks to ride the AI wave
• Neutral Sentiment: Coverage highlights that Fervo’s Cape project first-power timeline is approaching a key test. Execution against the schedule may be important to investor confidence. Fervo's Cape First-Power Timeline Faces Its Real Test After A 68% Slide
• Negative Sentiment: Rosen Law Firm says it is investigating potential securities claims over allegations that Fervo may have issued materially misleading business information. The announcement is an investigation, not a finding of wrongdoing, but adds legal and reputational uncertainty. Rosen Law Firm investigation announcement
• Negative Sentiment: Fervo’s IPO lock-up period is due to expire November 9. Newly eligible shares could increase selling pressure, although expiration does not mean holders will sell. Fervo Energy Company's Lock-Up Period Will Expire on November 9th

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Value Aligned Research Advisors LLC acquired a new position in shares of Fervo Energy in the 2nd quarter worth approximately $63,155,000. Squarepoint Ops LLC acquired a new stake in shares of Fervo Energy during the second quarter worth $12,423,000. State Street Corp acquired a new stake in shares of Fervo Energy during the second quarter worth $10,028,000. Readystate Asset Management LP acquired a new stake in shares of Fervo Energy during the second quarter worth $4,419,000. Finally, Wellington Management Group LLP bought a new position in Fervo Energy during the second quarter worth $129,600,000.

About Fervo Energy

Fervo Energy is a geothermal energy company developing enhanced geothermal systems designed to generate electricity from heat found deep beneath the earth's surface. The company applies techniques adapted from the oil and gas industry, including horizontal drilling and hydraulic stimulation, to create engineered geothermal reservoirs in areas where conventional geothermal resources may not be available.

Founded in 2017, Fervo combines advanced drilling, distributed fiber-optic sensing and reservoir engineering to evaluate and operate geothermal projects.

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