Fervo Energy Company (NASDAQ:FRVO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Fervo Energy Company (NASDAQ:FRVO) has been given an average rating of “Moderate Buy” by the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $46.25.

FRVO has been the subject of several recent analyst reports. Wall Street Zen cut Fervo Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. HC Wainwright reissued a “buy” rating on shares of Fervo Energy in a research report on Wednesday, May 27th. Sanford C. Bernstein began coverage on shares of Fervo Energy in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $47.00 target price for the company. Wolfe Research started coverage on shares of Fervo Energy in a research report on Monday, June 8th. They set a “peer perform” rating for the company. Finally, Barclays increased their price target on shares of Fervo Energy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th.

Fervo Energy Price Performance

Shares of Fervo Energy stock opened at $29.07 on Thursday. Fervo Energy has a fifty-two week low of $27.80 and a fifty-two week high of $42.65.

Fervo Energy (NASDAQ:FRVO) last released its earnings results on Monday, June 22nd. The company reported ($3.72) EPS for the quarter, missing the consensus estimate of ($0.09) by ($3.63). The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $1.20 million.