Fervo Energy (NASDAQ:FRVO) Cut to “Strong Sell” at Wall Street Zen

Fervo Energy (NASDAQ:FRVO) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Sunday.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Fervo Energy in a research note on Wednesday, May 27th. They issued a “hold” rating and a $42.00 target price for the company. Wolfe Research assumed coverage on Fervo Energy in a report on Monday, June 8th. They issued a “peer perform” rating on the stock. UBS Group set a $48.00 price objective on Fervo Energy in a report on Wednesday, June 24th. Sanford C. Bernstein initiated coverage on Fervo Energy in a research note on Tuesday, June 23rd. They issued an “outperform” rating and a $47.00 target price on the stock. Finally, William Blair assumed coverage on Fervo Energy in a research report on Monday, June 8th. They set an “outperform” rating and a $43.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Fervo Energy presently has an average rating of “Moderate Buy” and an average target price of $46.25.

Fervo Energy Stock Performance

FRVO traded down $0.22 during trading on Friday, reaching $27.13. The company had a trading volume of 2,965,843 shares, compared to its average volume of 3,675,165. Fervo Energy has a 12 month low of $23.10 and a 12 month high of $42.65. The company’s fifty day moving average price is $34.42.

Fervo Energy (NASDAQ:FRVO) last issued its quarterly earnings data on Monday, June 22nd. The company reported ($3.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($3.63). The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $1.20 million.