Northland Securities Initiates Coverage on Fervo Energy (NASDAQ:FRVO)

Equities research analysts at Northland Securities initiated coverage on shares of Fervo Energy (NASDAQ:FRVO) in a report released on Thursday, Benzinga reports. The brokerage set an “outperform” rating and a $27.00 price target on the stock. Northland Securities’ price target suggests a potential upside of 56.61% from the stock’s previous close.

A number of other research analysts have also issued reports on FRVO. Sanford C. Bernstein began coverage on Fervo Energy in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $47.00 price objective for the company. Barclays increased their price target on Fervo Energy from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Roth Capital began coverage on shares of Fervo Energy in a report on Thursday, June 11th. They issued a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. started coverage on Fervo Energy in a research report on Monday, June 8th. They set an “overweight” rating and a $47.00 price objective for the company. Finally, Guggenheim upgraded Fervo Energy to a “strong-buy” rating and set a $48.00 target price on the stock in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.69.

Fervo Energy Stock Performance

FRVO stock opened at $17.24 on Thursday. The company has a 50 day moving average of $21.58. Fervo Energy has a 1 year low of $14.60 and a 1 year high of $42.65.

Fervo Energy (NASDAQ:FRVO) last posted its earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $0.11 million for the quarter. Analysts expect that Fervo Energy will post -0.42 earnings per share for the current year.

Institutional Trading of Fervo Energy

Institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LP acquired a new stake in shares of Fervo Energy during the 2nd quarter valued at about $229,000. Engineers Gate Manager LP acquired a new position in Fervo Energy during the 2nd quarter worth $272,000. AXQ Capital LP acquired a new position in shares of Fervo Energy during the 2nd quarter worth about $499,000. NewEdge Advisors LLC bought a new stake in shares of Fervo Energy in the second quarter valued at approximately $1,245,000. Finally, Ranger Investment Management L.P. bought a new stake in Fervo Energy in the 2nd quarter valued at $1,455,000.

Fervo Energy Company Profile

Fervo Energy Company is a geothermal energy developer, builds, owns and operates geothermal power facilities. Fervo Energy Company is based in Houston, Texas.