Fervo Energy (NASDAQ:FRVO) Stock Gets Price Target Cut from Robert W. Baird

Fervo Energy (NASDAQ:FRVO) had its price target lowered by equities research analysts at Robert W. Baird from $26.00 to $20.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird‘s price target suggests a potential upside of 75.75% from the stock’s previous close.

Several other brokerages have also recently commented on FRVO. JPMorgan Chase & Co. reduced their target price on Fervo Energy from $38.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Northland Securities initiated coverage on shares of Fervo Energy in a report on Thursday, September 10th. They issued an “outperform” rating and a $27.00 price target on the stock. Weiss Ratings started coverage on shares of Fervo Energy in a report on Tuesday, August 18th. They issued a “sell (d)” rating on the stock. Wall Street Zen upgraded shares of Fervo Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 20th. Finally, Needham & Company LLC started coverage on shares of Fervo Energy in a report on Friday. They set a “buy” rating and a $17.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fervo Energy has an average rating of “Moderate Buy” and an average price target of $36.35.

Fervo Energy Stock Up 26.2%

Fervo Energy stock opened at $11.38 on Tuesday. The firm has a 50 day moving average price of $13.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.62 and a current ratio of 8.62. Fervo Energy has a 12 month low of $7.64 and a 12 month high of $42.65. The firm has a market cap of $3.35 billion and a PE ratio of -2.78.

Fervo Energy (NASDAQ:FRVO) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. The firm had revenue of $0.12 million for the quarter. On average, analysts expect that Fervo Energy will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fervo Energy

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in shares of Fervo Energy during the 2nd quarter worth approximately $129,600,000. Robeco Schweiz AG boosted its stake in Fervo Energy by 66.7% in the 3rd quarter. Robeco Schweiz AG now owns 3,282,928 shares of the company’s stock valued at $44,615,000 after buying an additional 1,313,704 shares in the last quarter. Value Aligned Research Advisors LLC bought a new stake in Fervo Energy in the second quarter valued at $63,155,000. Squarepoint Ops LLC bought a new stake in Fervo Energy in the second quarter valued at $12,423,000. Finally, State Street Corp bought a new stake in Fervo Energy in the second quarter valued at $10,028,000.

Fervo Energy News Roundup

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

• Positive Sentiment: Cape Station’s first GeoBlock entered commercial operation ahead of its contractual deadline. GeoBlocks 2 and 3 remain scheduled to begin operation by January 1, 2027, supporting expectations for increased power sales. Article: Cape Station GeoBlock begins commercial operation
• Positive Sentiment: Fervo reported 1,054 MW of power under binding purchase agreements, representing about $11.9 billion in contracted revenue. A 15-year, 396-MW Google agreement adds scale and long-term demand visibility. Article: Contracted backlog and Google geothermal deal
• Positive Sentiment: The company lowered its expected second-half 2026 capital spending to approximately $700 million–$750 million, from $850 million–$900 million, while maintaining project timing and total investment plans. It ended the quarter with about $1.9 billion in unrestricted cash. Article: Q3 update, Cape Station progress and spending outlook
• Positive Sentiment: Third-quarter adjusted results were better than expected: the loss was $0.07 per share versus analysts’ estimated $0.10 loss. Bernstein also reaffirmed its Outperform rating. Article: Fervo reports third-quarter results
• Neutral Sentiment: Quarterly revenue was just $0.12 million, underscoring that the business is still in an early commercial buildout despite its sizable contracted backlog. Article: Fervo Q3 sales increase
• Negative Sentiment: A securities law firm said it is investigating potential claims related to allegedly misleading company information. This is an investigation announcement, not a finding of wrongdoing, but could add headline risk. Article: Securities class action investigation announcement
• Negative Sentiment: A lock-up agreement covering roughly 205.8 million Class A shares was scheduled to end November 9, potentially increasing the number of shares available for sale. Article: Fervo share lock-up expiration

Fervo Energy Company Profile

Fervo Energy is a geothermal energy company that develops projects to produce electricity and provide energy storage. It applies drilling and subsurface technologies, including horizontal wells and fiber-optic sensing, to access geothermal resources and make them available in more locations.

Founded in 2017 and headquartered in Houston, Texas, Fervo has focused on projects in the western United States. Its developments include Project Red in Nevada and Cape Station in Utah, which is planned as a large-scale geothermal power project.

Fervo was co-founded by Tim Latimer, its chief executive officer, and Jack Norbeck.