Shares of Fervo Energy Company (NASDAQ:FRVO – Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.74 and last traded at $16.86, with a volume of 1870737 shares changing hands. The stock had previously closed at $17.83.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Fervo Energy from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Piper Sandler reiterated an “overweight” rating on shares of Fervo Energy in a research note on Tuesday, June 23rd. Wall Street Zen upgraded Fervo Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 20th. William Blair began coverage on Fervo Energy in a report on Monday, June 8th. They set an “outperform” rating and a $43.00 price target on the stock. Finally, Wolfe Research assumed coverage on Fervo Energy in a research note on Monday, June 8th. They set a “peer perform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.00.
Read Our Latest Stock Analysis on FRVO
Fervo Energy Trading Down 5.4%
Fervo Energy (NASDAQ:FRVO – Get Free Report) last issued its quarterly earnings results 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, research analysts forecast that Fervo Energy Company will post -0.42 earnings per share for the current year.
Hedge Funds Weigh In On Fervo Energy
A hedge fund recently bought a new stake in Fervo Energy stock. Ranger Investment Management L.P. purchased a new stake in Fervo Energy Company (NASDAQ:FRVO – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 49,772 shares of the company’s stock, valued at approximately $1,455,000.
About Fervo Energy
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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