Fervo Energy Company (NASDAQ:FRVO) Sees Significant Increase in Short Interest

Fervo Energy Company (NASDAQ:FRVO) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 4,556,256 shares, an increase of 61.2% from the May 14th total of 2,826,230 shares. Based on an average trading volume of 4,263,484 shares, the short-interest ratio is currently 1.1 days. Currently, 1.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FRVO. Guggenheim raised shares of Fervo Energy to a “strong-buy” rating and set a $48.00 price objective for the company in a research report on Monday, June 8th. Sanford C. Bernstein began coverage on shares of Fervo Energy in a research report on Wednesday. They issued an “outperform” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Fervo Energy in a research report on Monday, June 8th. They issued an “overweight” rating and a $47.00 price objective for the company. Jefferies Financial Group began coverage on shares of Fervo Energy in a research report on Wednesday, May 27th. They issued a “hold” rating and a $42.00 price objective for the company. Finally, Piper Sandler began coverage on shares of Fervo Energy in a research report on Sunday, June 7th. They issued an “overweight” rating and a $51.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.67.

Fervo Energy Price Performance

NASDAQ FRVO opened at $33.91 on Wednesday. Fervo Energy has a 52-week low of $32.39 and a 52-week high of $42.65.