Fervo Energy Company (NASDAQ:FRVO) Sees Significant Increase in Short Interest

Fervo Energy Company (NASDAQ:FRVO) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 4,556,256 shares, a growth of 61.2% from the May 14th total of 2,826,230 shares. Based on an average trading volume of 4,263,484 shares, the days-to-cover ratio is presently 1.1 days. Currently, 1.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FRVO shares. Guggenheim upgraded shares of Fervo Energy to a “strong-buy” rating and set a $48.00 price target on the stock in a research note on Monday, June 8th. UBS Group set a $45.00 price objective on shares of Fervo Energy in a research note on Thursday. Roth Mkm began coverage on shares of Fervo Energy in a research note on Thursday. They issued a “buy” rating and a $45.00 price objective on the stock. Zacks Research upgraded shares of Fervo Energy to a “hold” rating in a research note on Tuesday, June 9th. Finally, Sanford C. Bernstein began coverage on shares of Fervo Energy in a research note on Monday, June 8th. They issued an “outperform” rating and a $47.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.67.

Fervo Energy Stock Down 0.3%

Shares of NASDAQ:FRVO traded down $0.12 during midday trading on Tuesday, hitting $35.20. The stock had a trading volume of 138,035 shares, compared to its average volume of 3,538,261. Fervo Energy has a 1 year low of $32.39 and a 1 year high of $42.65.