Fervo Energy Company’s (NASDAQ:FRVO) Quiet Period Will End on June 22nd

Fervo Energy’s (NASDAQ:FRVO) quiet period is set to expire on Monday, June 22nd. Fervo Energy had issued 70,000,000 shares in its initial public offering on May 13th. The total size of the offering was $1,890,000,000 based on an initial share price of $27.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Several brokerages recently commented on FRVO. Sanford C. Bernstein initiated coverage on shares of Fervo Energy in a research note on Monday, June 8th. They set an “outperform” rating and a $47.00 price target on the stock. Royal Bank Of Canada began coverage on shares of Fervo Energy in a research note on Monday, June 8th. They issued an “outperform” rating and a $46.00 price objective for the company. Wolfe Research began coverage on Fervo Energy in a report on Monday, June 8th. They set a “peer perform” rating on the stock. Piper Sandler assumed coverage on Fervo Energy in a research report on Sunday, June 7th. They set an “overweight” rating and a $51.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Fervo Energy in a report on Monday, June 8th. They issued an “overweight” rating and a $47.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Fervo Energy presently has an average rating of “Moderate Buy” and a consensus price target of $45.67.

Fervo Energy Price Performance

NASDAQ FRVO opened at $35.19 on Monday. Fervo Energy has a one year low of $32.39 and a one year high of $42.65.