1,313,704 Fervo Energy Company $FRVO Shares Bought by Robeco Schweiz AG

Key Points

• Robeco Schweiz AG increased its Fervo Energy stake by 66.7% in the third quarter, adding 1.31 million shares to own 3.28 million shares worth approximately $44.6 million, or 1.11% of the company.
• Several other institutional investors, including Wellington Management and Value Aligned Research Advisors, also established or expanded positions in Fervo Energy during the second quarter.
• Fervo shares opened at $8.04, near their 52-week low of $7.83 and well below the $42.65 high. The company missed quarterly earnings estimates, while analysts maintained a “Moderate Buy” consensus with an average price target of $39.53.

Robeco Schweiz AG lifted its position in shares of Fervo Energy Company (NASDAQ:FRVO - Free Report) by 66.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,282,928 shares of the company's stock after acquiring an additional 1,313,704 shares during the period. Robeco Schweiz AG owned approximately 1.11% of Fervo Energy worth $44,615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Fervo Energy during the 2nd quarter valued at about $129,600,000. Value Aligned Research Advisors LLC bought a new stake in shares of Fervo Energy in the second quarter worth approximately $63,155,000. Squarepoint Ops LLC purchased a new position in shares of Fervo Energy during the second quarter valued at approximately $12,423,000. State Street Corp purchased a new position in shares of Fervo Energy during the second quarter valued at approximately $10,028,000. Finally, Resolute Advisors LLC purchased a new position in shares of Fervo Energy during the second quarter valued at approximately $5,285,000.

Fervo Energy Price Performance

Shares of NASDAQ:FRVO opened at $8.04 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.62 and a quick ratio of 8.62. Fervo Energy Company has a 1-year low of $7.83 and a 1-year high of $42.65. The stock has a market capitalization of $2.37 billion and a P/E ratio of -1.96. The firm's 50 day moving average price is $14.79.

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 for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.29). The business had revenue of $0.11 million for the quarter. On average, sell-side analysts anticipate that Fervo Energy Company will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FRVO has been the subject of a number of research reports. Wall Street Zen upgraded Fervo Energy from a "strong sell" rating to a "sell" rating in a research report on Monday, July 20th. Wolfe Research set a $29.00 target price on Fervo Energy and gave the stock an "outperform" rating in a research report on Friday, September 25th. Northland Securities started coverage on Fervo Energy in a research note on Thursday, September 10th. They set an "outperform" rating and a $27.00 price target for the company. Morgan Stanley raised shares of Fervo Energy to an "overweight" rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings started coverage on shares of Fervo Energy in a research note on Tuesday, August 18th. They issued a "sell (d)" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.53.

Fervo Energy Company Profile

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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