Green Alpha Advisors LLC Makes New $843,000 Investment in Fervo Energy Company $FRVO

Green Alpha Advisors LLC bought a new position in shares of Fervo Energy Company (NASDAQ:FRVO) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 62,006 shares of the company’s stock, valued at approximately $843,000.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new position in shares of Fervo Energy in the 2nd quarter valued at about $129,600,000. Value Aligned Research Advisors LLC purchased a new stake in shares of Fervo Energy during the second quarter worth approximately $63,155,000. Squarepoint Ops LLC acquired a new stake in Fervo Energy in the second quarter valued at approximately $12,423,000. State Street Corp purchased a new position in Fervo Energy in the second quarter worth approximately $10,028,000. Finally, Resolute Advisors LLC acquired a new position in Fervo Energy during the 2nd quarter worth approximately $5,285,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Roth Capital started coverage on shares of Fervo Energy in a research report on Thursday, June 11th. They set a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group upgraded Fervo Energy from a “hold” rating to a “buy” rating and cut their price target for the company from $41.00 to $34.00 in a research note on Monday, July 20th. Piper Sandler reaffirmed an “overweight” rating on shares of Fervo Energy in a research report on Tuesday, June 23rd. Robert W. Baird dropped their price objective on Fervo Energy from $50.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Finally, Weiss Ratings initiated coverage on Fervo Energy in a research report on Tuesday, August 18th. They set a “sell (d)” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.87.

Fervo Energy Stock Performance

NASDAQ FRVO traded down $0.17 during trading hours on Thursday, hitting $13.80. The company had a trading volume of 6,152,738 shares, compared to its average volume of 4,878,674. 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 Company has a 1-year low of $13.10 and a 1-year high of $42.65. The stock has a market cap of $4.07 billion and a P/E ratio of -3.37. The firm has a 50 day moving average of $17.46.

Fervo Energy (NASDAQ:FRVO) last posted its earnings results on Wednesday, August 12th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $0.11 million during the quarter. Sell-side analysts expect that Fervo Energy Company will post -0.54 earnings per share for the current fiscal year.

Fervo Energy Company Profile

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.