Wolfe Research Upgrades Fervo Energy (NASDAQ:FRVO) to “Strong-Buy”

Fervo Energy (NASDAQ:FRVO) was upgraded by analysts at Wolfe Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks reports.

FRVO has been the topic of a number of other research reports. Sanford C. Bernstein reissued an “outperform” rating and set a $47.00 price objective on shares of Fervo Energy in a research note on Thursday. Piper Sandler restated an “overweight” rating on shares of Fervo Energy in a research note on Tuesday, June 23rd. Guggenheim raised Fervo Energy to a “strong-buy” rating and set a $48.00 price target on the stock in a report on Monday, June 8th. Robert W. Baird dropped their price target on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Finally, Bank of America cut their price objective on Fervo Energy from $36.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $40.87.

Fervo Energy Price Performance

FRVO stock opened at $15.18 on Friday. The company has a 50 day moving average price of $19.25. Fervo Energy has a 12 month low of $14.60 and a 12 month high of $42.65.

Fervo Energy (NASDAQ:FRVO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.38) 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. Equities research analysts predict that Fervo Energy will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Fervo Energy

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new position in Fervo Energy in the second quarter worth $129,600,000. Value Aligned Research Advisors LLC purchased a new stake in shares of Fervo Energy during the second quarter valued at approximately $63,155,000. Squarepoint Ops LLC bought a new stake in shares of Fervo Energy in the 2nd quarter worth $12,423,000. State Street Corp purchased a new position in Fervo Energy in the 2nd quarter worth about $10,028,000. Finally, Resolute Advisors LLC purchased a new position in shares of Fervo Energy during the second quarter valued at approximately $5,285,000.

Key Fervo Energy News

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

• Positive Sentiment: Cape Station reached first power. Fervo said its Utah project achieved the first power milestone, marking what it described as the world’s first utility-scale enhanced geothermal development to do so. The project is designed to scale toward as much as 900 megawatts, supporting the company’s growth story and its potential role in supplying reliable, carbon-free electricity to data centers and the broader grid. Fervo Energy Achieves First Power at Cape Station
• Positive Sentiment: Initial generation highlights significant expansion potential. Reports said the Google-backed company brought roughly 33 megawatts online at Cape Station, within a site estimated to hold about 4 gigawatts of geothermal potential. The milestone reinforces investor interest in Fervo’s technology as electricity demand from artificial intelligence and data centers accelerates. Google-backed energy outfit brings 33 MW online
• Positive Sentiment: Analyst sentiment remains supportive. Johnson Rice upgraded Fervo to “strong buy,” while Sanford C. Bernstein reaffirmed an “outperform” rating and a $47 price target. These calls suggest some analysts see substantial upside if Cape Station scales successfully.
• Neutral Sentiment: The first-power announcement is an early-stage milestone, not proof of full commercial performance. Investors still need evidence of sustained output, successful expansion, project economics and the ability to convert the large resource potential into revenue.
• Negative Sentiment: Fervo faces a securities-related investigation. Hagens Berman reportedly opened a probe into whether the company adequately disclosed risks associated with Cape Station. The investigation could increase legal costs, reputational risk and uncertainty around the company’s disclosures. Fervo Energy Draws Hagens Berman Probe
• Negative Sentiment: Financial results remain weak. Fervo’s latest reported quarter included a larger-than-expected per-share loss and minimal revenue, underscoring that the company remains dependent on successful project execution and future commercialization.

Fervo Energy Company Profile

Fervo Energy is a geothermal energy company developing enhanced geothermal systems (EGS) designed to produce electricity from heat found deep underground. Its approach applies horizontal drilling, hydraulic stimulation and oil-and-gas well technologies to access geothermal resources in locations that may not have naturally permeable reservoirs.

The company develops geothermal projects and related drilling and reservoir-engineering technologies for utility-scale power generation. Fervo’s Project Red demonstration in northern Nevada has been used to validate its EGS approach, while the company is developing the larger Cape Station project in southwestern Utah.

Fervo Energy was founded in 2017 by Tim Latimer and Jamie Beard.