Squarepoint Ops LLC Makes New $12.42 Million Investment in Fervo Energy Company $FRVO

Squarepoint Ops LLC acquired a new stake in shares of Fervo Energy Company (NASDAQ:FRVO) in the second quarter, HoldingsChannel.com reports. The fund acquired 425,008 shares of the company’s stock, valued at approximately $12,423,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corient Private Wealth LP bought a new position in shares of Fervo Energy during the second quarter worth $229,000. AXQ Capital LP purchased a new position in Fervo Energy during the second quarter valued at $499,000. Ranger Investment Management L.P. bought a new stake in Fervo Energy in the 2nd quarter valued at $1,455,000. Readystate Asset Management LP bought a new stake in Fervo Energy in the 2nd quarter valued at $4,419,000. Finally, Resolute Advisors LLC purchased a new stake in Fervo Energy in the 2nd quarter worth $5,285,000.

Fervo Energy Stock Performance

Shares of NASDAQ:FRVO opened at $17.24 on Thursday. Fervo Energy Company has a 12 month low of $14.60 and a 12 month high of $42.65. The firm’s 50-day moving average price is $21.58.

Fervo Energy (NASDAQ:FRVO) last announced 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 business had revenue of $0.11 million for the quarter. On average, equities analysts forecast that Fervo Energy Company will post -0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

FRVO has been the subject of several research reports. Weiss Ratings began coverage on shares of Fervo Energy in a report on Tuesday, August 18th. They set a “sell (d)” rating for the company. Morgan Stanley upgraded Fervo Energy to an “overweight” rating in a research report on Tuesday, September 1st. HC Wainwright reissued a “buy” rating on shares of Fervo Energy in a research note on Wednesday, May 27th. Piper Sandler restated an “overweight” rating on shares of Fervo Energy in a report on Tuesday, June 23rd. Finally, Roth Capital started coverage on Fervo Energy in a report on Thursday, June 11th. They set a “buy” rating and a $45.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fervo Energy currently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

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.