Fervo Energy (NASDAQ:FRVO) Hits New 12-Month Low - Here's Why

Key Points

• Fervo Energy shares hit a new 52-week low, falling as low as $14.60 and trading near $15.38, well below the 50-day moving average of $23.43.
• The company’s latest quarterly results disappointed investors: Fervo reported a loss of $0.38 per share versus the expected $0.09 loss, with only $0.11 million in revenue.
• Despite the selloff, analysts maintain a consensus “Moderate Buy” rating with a $44 price target, while several institutional investors recently initiated positions in the company.

Shares of Fervo Energy Company (NASDAQ:FRVO - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $14.60 and last traded at $15.38, with a volume of 4505416 shares trading hands. The stock had previously closed at $14.77.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Zacks Research raised Fervo Energy to a "hold" rating in a research note on Tuesday, June 9th. Robert W. Baird decreased their target price on Fervo Energy from $50.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, August 13th. Barclays upped their price target on Fervo Energy from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Jefferies Financial Group raised shares of Fervo Energy from a "hold" rating to a "buy" rating and lowered their target price for the company from $41.00 to $34.00 in a research note on Monday, July 20th. Finally, Wall Street Zen raised shares of Fervo Energy from a "strong sell" rating to a "sell" rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.00.

Fervo Energy Price Performance

The firm has a fifty day moving average price of $23.43.

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 for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $0.11 million during the quarter. On average, equities analysts forecast that Fervo Energy Company will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LP bought a new stake in Fervo Energy in the 2nd quarter valued at $229,000. AXQ Capital LP acquired a new position in Fervo Energy in the 2nd quarter worth $499,000. Ranger Investment Management L.P. bought a new position in Fervo Energy during the 2nd quarter worth about $1,455,000. Readystate Asset Management LP bought a new position in Fervo Energy during the 2nd quarter worth about $4,419,000. Finally, Resolute Advisors LLC acquired a new stake in shares of Fervo Energy in the 2nd quarter valued at about $5,285,000.

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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