Fervo Energy (NASDAQ:FRVO) Sets New 12-Month Low – Time to Sell?

Fervo Energy Company (NASDAQ:FRVO)’s stock price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $7.83 and last traded at $7.90, with a volume of 420,222 shares changing hands. The stock had previously closed at $8.04.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FRVO shares. Wall Street Zen upgraded shares of Fervo Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. Sanford C. Bernstein restated an “outperform” rating and issued a $47.00 target price on shares of Fervo Energy in a report on Friday, October 2nd. JPMorgan Chase & Co. decreased their target price on shares of Fervo Energy from $38.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Johnson Rice started coverage on Fervo Energy in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $35.00 price target for the company. Finally, Robert W. Baird reduced their price objective on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.53.

Fervo Energy Stock Performance

The company has a fifty day moving average price of $14.79. The stock has a market cap of $2.38 billion and a PE ratio of -1.97. The company has a current ratio of 8.62, a quick ratio of 8.62 and a debt-to-equity ratio of 0.08.

Fervo Energy (NASDAQ:FRVO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.38) EPS 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 anticipate that Fervo Energy Company will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fervo Energy

Several large investors have recently added to or reduced their stakes in FRVO. Signaturefd LLC grew its stake in Fervo Energy by 175.0% in the third quarter. Signaturefd LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,400 shares in the last quarter. Sterling Capital Management LLC purchased a new position in Fervo Energy during the 3rd quarter worth $27,000. SBI Securities Co. Ltd. raised its position in Fervo Energy by 387.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,512 shares of the company’s stock valued at $61,000 after purchasing an additional 3,586 shares in the last quarter. Corient Private Wealth LP bought a new stake in Fervo Energy during the 2nd quarter valued at $229,000. Finally, Engineers Gate Manager LP bought a new stake in Fervo Energy during the 2nd quarter valued at $272,000.

Fervo Energy Company Profile

Fervo Energy is a geothermal energy company developing enhanced geothermal systems designed to generate electricity from heat found deep beneath the earth’s surface. The company applies techniques adapted from the oil and gas industry, including horizontal drilling and hydraulic stimulation, to create engineered geothermal reservoirs in areas where conventional geothermal resources may not be available.

Founded in 2017, Fervo combines advanced drilling, distributed fiber-optic sensing and reservoir engineering to evaluate and operate geothermal projects.