Green Alpha Advisors LLC Purchases New Position in Fervo Energy Company $FRVO

Green Alpha Advisors LLC purchased a new position in shares of Fervo Energy Company (NASDAQ:FRVO) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 62,006 shares of the company’s stock, valued at approximately $843,000.

Other large investors have also recently added to or reduced their stakes in the company. Corient Private Wealth LP purchased a new position in Fervo Energy during the 2nd quarter valued at about $229,000. Engineers Gate Manager LP acquired a new stake in shares of Fervo Energy in the second quarter valued at approximately $272,000. AXQ Capital LP purchased a new position in shares of Fervo Energy during the 2nd quarter worth approximately $499,000. NewEdge Advisors LLC acquired a new position in shares of Fervo Energy during the 2nd quarter worth approximately $1,245,000. Finally, Ranger Investment Management L.P. acquired a new position in shares of Fervo Energy during the 2nd quarter worth approximately $1,455,000.

Analyst Ratings Changes

A number of equities research analysts have commented on FRVO shares. Robert W. Baird lowered their target price on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. UBS Group set a $48.00 price objective on Fervo Energy in a research report on Wednesday, June 24th. Bank of America cut their target price on shares of Fervo Energy from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, September 25th. Piper Sandler restated an “overweight” rating on shares of Fervo Energy in a research report on Tuesday, June 23rd. Finally, Roth Capital began coverage on Fervo Energy in a report on Thursday, June 11th. They set a “buy” rating and a $45.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.87.

Fervo Energy Stock Down 1.2%

Shares of FRVO traded down $0.17 during trading on Thursday, reaching $13.80. The company’s stock had a trading volume of 6,152,738 shares, compared to its average volume of 4,878,674. The company has a market cap of $4.07 billion and a P/E ratio of -3.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.62 and a current ratio of 8.62. The business’s fifty day moving average price is $17.46. Fervo Energy Company has a twelve month low of $13.10 and a twelve month high of $42.65.

Fervo Energy (NASDAQ:FRVO) last issued its earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $0.11 million for the quarter. As a group, equities analysts forecast that Fervo Energy Company will post -0.54 EPS for the current fiscal year.

About Fervo Energy

Fervo Energy is a geothermal energy company focused on developing enhanced geothermal systems (EGS), which use horizontal drilling and hydraulic stimulation techniques to access heat in underground rock and produce electricity. Its approach is designed to expand geothermal generation beyond locations with naturally occurring conventional geothermal resources.

The company develops geothermal projects, including Project Red in northern Nevada and the larger Cape Station project in southwestern Utah.