Fervo Energy (NASDAQ:FRVO) Sets New 1-Year Low – Should You Sell?

Fervo Energy Company (NASDAQ:FRVO)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $15.26 and last traded at $15.31, with a volume of 2046764 shares changing hands. The stock had previously closed at $16.45.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Fervo Energy in a research note on Tuesday, June 23rd. UBS Group set a $48.00 price target on Fervo Energy in a report on Wednesday, June 24th. Piper Sandler reissued an “overweight” rating on shares of Fervo Energy in a report on Tuesday, June 23rd. HC Wainwright restated a “buy” rating on shares of Fervo Energy in a research report on Wednesday, May 27th. Finally, Roth Capital started coverage on Fervo Energy in a research note on Thursday, June 11th. They set a “buy” rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fervo Energy presently has an average rating of “Moderate Buy” and an average target price of $44.00.

Fervo Energy Stock Performance

The company has a 50-day moving average price of $24.26.

Fervo Energy (NASDAQ:FRVO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $0.11 million for the quarter. On average, sell-side analysts forecast that Fervo Energy Company will post -0.42 EPS for the current year.

Institutional Trading of Fervo Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Ranger Investment Management L.P. bought a new position in Fervo Energy during the second quarter valued at about $1,455,000. Wellington Management Group LLP acquired a new position in Fervo Energy in the second quarter worth approximately $129,600,000. Resolute Advisors LLC bought a new position in shares of Fervo Energy in the second quarter valued at $5,285,000. AXQ Capital LP acquired a new stake in shares of Fervo Energy during the 2nd quarter valued at $499,000. Finally, Value Aligned Research Advisors LLC acquired a new stake in shares of Fervo Energy during the 2nd quarter valued at $63,155,000.

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.