Fervo Energy (NASDAQ:FRVO) Coverage Initiated by Analysts at Northland Securities

Research analysts at Northland Securities began coverage on shares of Fervo Energy (NASDAQ:FRVO) in a research note issued to investors on Thursday, Benzinga reports. The firm set an “outperform” rating and a $27.00 price target on the stock. Northland Securities’ price target suggests a potential upside of 56.61% from the company’s current price.

FRVO has been the topic of several other reports. Morgan Stanley upgraded shares of Fervo Energy to an “overweight” rating in a report on Tuesday, September 1st. JPMorgan Chase & Co. began coverage on shares of Fervo Energy in a report on Monday, June 8th. They set an “overweight” rating and a $47.00 target price for the company. Barclays raised their target price on shares of Fervo Energy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Fervo Energy in a research report on Tuesday, June 23rd. Finally, Guggenheim upgraded shares of Fervo Energy to a “strong-buy” rating and set a $48.00 price objective for the company in a research note on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.69.

Fervo Energy Trading Down 8.8%

Fervo Energy stock opened at $17.24 on Thursday. The business has a fifty day simple moving average of $21.58. Fervo Energy has a 52 week low of $14.60 and a 52 week high of $42.65.

Fervo Energy (NASDAQ:FRVO) last announced its 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 firm had revenue of $0.11 million during the quarter. Research analysts anticipate that Fervo Energy will post -0.42 earnings per share for the current year.

Institutional Trading of Fervo Energy

Large investors have recently added to or reduced their stakes in the company. Value Aligned Research Advisors LLC acquired a new position in shares of Fervo Energy during the 2nd quarter worth about $63,155,000. Readystate Asset Management LP bought a new position in Fervo Energy during the second quarter worth about $4,419,000. Resolute Advisors LLC acquired a new position in Fervo Energy during the second quarter worth approximately $5,285,000. Wellington Management Group LLP bought a new stake in Fervo Energy in the second quarter valued at approximately $129,600,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Fervo Energy in the second quarter valued at approximately $12,423,000.

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.