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

Fervo Energy Company (NASDAQ:FRVO) was the recipient of a significant increase in short interest in 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. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,263,484 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FRVO shares. HC Wainwright reissued a “buy” rating on shares of Fervo Energy in a report on Wednesday, May 27th. Piper Sandler started coverage on shares of Fervo Energy in a report on Sunday, June 7th. They set an “overweight” rating and a $51.00 price objective on the stock. UBS Group set a $45.00 price objective on shares of Fervo Energy in a report on Thursday. JPMorgan Chase & Co. started coverage on shares of Fervo Energy in a report on Monday, June 8th. They set an “overweight” rating and a $47.00 price objective on the stock. Finally, Zacks Research raised shares of Fervo Energy to a “hold” rating in a report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fervo Energy has an average rating of “Moderate Buy” and a consensus price target of $45.67.

Fervo Energy Price Performance

Shares of NASDAQ FRVO traded down $0.12 during trading on Tuesday, reaching $35.20. The company had a trading volume of 138,035 shares, compared to its average volume of 3,538,261. Fervo Energy has a twelve month low of $32.39 and a twelve month high of $42.65.