Squarepoint Ops LLC Makes New Investment in Fervo Energy Company $FRVO

Key Points

• Squarepoint Ops LLC acquired 425,008 shares of Fervo Energy in the second quarter, valued at approximately $12.4 million and representing a 0.14% stake. Several other institutional investors also initiated positions.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $44.00, although ratings range from “Strong Buy” to “Sell.”
• Fervo Energy shares opened at $17.24 after falling 8.8%, near the lower end of their 52-week range. The company reported a quarterly loss of $0.38 per share, missing the $0.09 consensus estimate, on $0.11 million in revenue.

Squarepoint Ops LLC bought a new stake in shares of Fervo Energy Company (NASDAQ:FRVO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 425,008 shares of the company's stock, valued at approximately $12,423,000. Squarepoint Ops LLC owned 0.14% of Fervo Energy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Corient Private Wealth LP purchased a new position in shares of Fervo Energy during the second quarter valued at approximately $229,000. AXQ Capital LP purchased a new stake in Fervo Energy in the second quarter worth approximately $499,000. Ranger Investment Management L.P. purchased a new stake in Fervo Energy in the second quarter worth approximately $1,455,000. Readystate Asset Management LP bought a new stake in Fervo Energy in the 2nd quarter worth approximately $4,419,000. Finally, Resolute Advisors LLC bought a new stake in Fervo Energy in the 2nd quarter worth approximately $5,285,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FRVO shares. Wolfe Research assumed coverage on Fervo Energy in a report on Monday, June 8th. They set a "peer perform" rating on the stock. Wall Street Zen raised Fervo Energy from a "strong sell" rating to a "sell" rating in a report on Monday, July 20th. Roth Capital initiated coverage on Fervo Energy in a research report on Thursday, June 11th. They set a "buy" rating and a $45.00 price objective for the company. HC Wainwright reissued a "buy" rating on shares of Fervo Energy in a report on Wednesday, May 27th. Finally, Piper Sandler reissued an "overweight" rating on shares of Fervo Energy in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.00.

Fervo Energy Trading Down 8.8%

Shares of NASDAQ:FRVO opened at $17.24 on Thursday. Fervo Energy Company has a 1-year low of $14.60 and a 1-year high of $42.65. The firm's 50 day moving average price is $21.58.

Fervo Energy (NASDAQ:FRVO - Get Free Report) last announced 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 firm had revenue of $0.11 million for the quarter. On average, equities research analysts predict that Fervo Energy Company will post -0.42 EPS for the current fiscal year.

Fervo Energy Company Profile

Fervo Energy Company is a geothermal energy developer, builds, owns and operates geothermal power facilities. Fervo Energy Company is based in Houston, Texas.

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