Fervo Energy (NASDAQ:FRVO) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Fervo Energy (NASDAQ:FRVO) had its price objective lowered by JPMorgan Chase & Co. from $38.00 to $27.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on FRVO. Northland Securities began coverage on Fervo Energy in a report on Thursday, September 10th. They issued an “outperform” rating and a $27.00 price target on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $46.00 target price on shares of Fervo Energy in a research report on Tuesday, June 23rd. Morgan Stanley raised shares of Fervo Energy to an “overweight” rating in a research note on Tuesday, September 1st. 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 note on Wednesday, June 24th. Finally, Bank of America lowered their target price on shares of Fervo Energy from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.53.

Fervo Energy Price Performance

Shares of Fervo Energy stock opened at $9.02 on Monday. The firm has a 50 day moving average of $15.27. Fervo Energy has a fifty-two week low of $8.83 and a fifty-two week high of $42.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.62 and a quick ratio of 8.62.

Fervo Energy (NASDAQ:FRVO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The business had revenue of $0.11 million during the quarter. On average, analysts expect that Fervo Energy will post -0.54 EPS for the current year.

Institutional Trading of Fervo Energy

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in Fervo Energy during the second quarter worth about $129,600,000. Value Aligned Research Advisors LLC acquired a new position in Fervo Energy in the second quarter valued at about $63,155,000. Squarepoint Ops LLC acquired a new position in Fervo Energy in the second quarter valued at about $12,423,000. State Street Corp acquired a new position in Fervo Energy in the second quarter valued at about $10,028,000. Finally, Resolute Advisors LLC bought a new stake in shares of Fervo Energy in the second quarter worth about $5,285,000.

Fervo Energy News Roundup

Here are the key news stories impacting Fervo Energy this week:

• Positive Sentiment: Some analysts remain bullish on Fervo Energy, indicating that the company’s geothermal-energy opportunity could support long-term value despite near-term volatility. Analysts Are Bullish on These NA Stocks
• Neutral Sentiment: Fervo executive Gustavo Torres is scheduled to participate in a Texas Tech University energy-law lecture series. The event provides industry visibility but is not expected to materially affect near-term financial results. TTU energy law lecture series continues featuring Gustavo Torres
• Negative Sentiment: JPMorgan Chase reportedly lowered its price target for Fervo Energy, adding valuation pressure and signaling reduced confidence in the stock’s near-term upside. Fervo Energy Stock Price Target Cut by JPMorgan Chase
• Negative Sentiment: An analyst downgrade contributed to the recent decline, reinforcing concerns about execution, valuation and the timing of Fervo’s growth plans. Fervo Energy Stock Price Down Following Analyst Downgrade
• Negative Sentiment: Analysts edged their fair-value estimates lower while weighing the timing of the Cape Station project, suggesting that delays or uncertainty around the project could postpone revenue growth and improve investor caution. Fervo Energy Stock Fair Value Edges Lower
• Negative Sentiment: Rosen Law Firm and Kirby McInerney announced investigations into potential securities claims alleging that Fervo Energy may have provided materially misleading business information. The investigations are allegations, not findings, but they add reputational, legal and potential financial risk. ROSEN Investor Investigation

About Fervo Energy

Fervo Energy is a geothermal energy company developing enhanced geothermal systems designed to generate electricity from heat found deep beneath the earth’s surface. The company applies techniques adapted from the oil and gas industry, including horizontal drilling and hydraulic stimulation, to create engineered geothermal reservoirs in areas where conventional geothermal resources may not be available.

Founded in 2017, Fervo combines advanced drilling, distributed fiber-optic sensing and reservoir engineering to evaluate and operate geothermal projects.