Fervo Energy’s (FRVO) Outperform Rating Reiterated at Sanford C. Bernstein

Sanford C. Bernstein reissued their outperform rating on shares of Fervo Energy (NASDAQ:FRVO) in a report released on Monday morning,Benzinga reports. Sanford C. Bernstein currently has a $47.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the stock. Bank of America lowered their target price on shares of Fervo Energy from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Weiss Ratings started coverage on Fervo Energy in a report on Tuesday, August 18th. They set a “sell (d)” rating for the company. 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. Johnson Rice initiated coverage on Fervo Energy in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Needham & Company LLC began coverage on shares of Fervo Energy in a research report on Friday, November 6th. They set a “buy” rating and a $17.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.35.

Fervo Energy Stock Performance

Fervo Energy stock opened at $12.94 on Monday. Fervo Energy has a fifty-two week low of $7.64 and a fifty-two week high of $42.65. The company has a current ratio of 8.62, a quick ratio of 8.62 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $12.83. The stock has a market capitalization of $3.81 billion and a PE ratio of -3.16.

Fervo Energy (NASDAQ:FRVO) last posted its quarterly earnings results on Monday, November 9th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $0.12 million for the quarter. As a group, analysts predict that Fervo Energy will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Fervo Energy

Several large investors have recently made changes to their positions in FRVO. Wellington Management Group LLP bought a new position in shares of Fervo Energy during the 2nd quarter valued at about $129,600,000. Value Aligned Research Advisors LLC bought a new position in shares of Fervo Energy during the 2nd quarter valued at approximately $63,155,000. Robeco Schweiz AG raised its stake in shares of Fervo Energy by 66.7% in the third quarter. Robeco Schweiz AG now owns 3,282,928 shares of the company’s stock valued at $44,615,000 after acquiring an additional 1,313,704 shares during the period. Creek Drive Management Group LLC purchased a new stake in Fervo Energy in the 3rd quarter worth about $7,447,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Fervo Energy in the second quarter worth approximately $12,423,000.

Key Stories Impacting Fervo Energy

Investors following FRVO have been watching these stories:

• Positive Sentiment: Fervo reported better-than-expected third-quarter EPS, while its Utah project reached commercial operation. The company also highlighted a 396-MW Google power deal that helped lift its backlog to $11.9 billion, along with progress at Cape Station and lower construction costs. These developments support its growth outlook, though execution remains important. Gates-Backed Fervo Stock Rises After Its Utah Power Plant Achieves ‘Commercial Operation’ FRVO Q3 Earnings Call Highlights Google Deal and Geothermal Expansion
• Positive Sentiment: Morgan Stanley initiated a Buy rating, and Sanford C. Bernstein assigned an Outperform rating, signaling favorable views from analysts. Fervo Energy Company Class A Receives a Buy from Morgan Stanley Fervo Energy Earns Outperform Rating from Sanford C. Bernstein
• Neutral Sentiment: Analysts lowered price targets but kept positive ratings: Guggenheim cut its target to $33 from $48 while maintaining Buy, and Baird lowered its target to $20 from $26 while retaining Outperform. The reductions temper optimism but both firms still see potential upside. Guggenheim Adjusts Price Target on Fervo Energy to $33 From $48, Keeps Buy Rating

About Fervo Energy

Fervo Energy is a geothermal energy company that develops projects to produce electricity and provide energy storage. It applies drilling and subsurface technologies, including horizontal wells and fiber-optic sensing, to access geothermal resources and make them available in more locations. Founded in 2017 and headquartered in Houston, Texas, Fervo has focused on projects in the western United States. Its developments include Project Red in Nevada and Cape Station in Utah, which is planned as a large-scale geothermal power project.