Brokerages Set Fervo Energy Company (NASDAQ:FRVO) Price Target at $46.25

Fervo Energy Company (NASDAQ:FRVO) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $46.25.

Several analysts have weighed in on FRVO shares. JPMorgan Chase & Co. started coverage on Fervo Energy in a research note on Monday, June 8th. They set an “overweight” rating and a $47.00 price target on the stock. William Blair started coverage on Fervo Energy in a report on Monday, June 8th. They set an “outperform” rating and a $43.00 target price for the company. Zacks Research upgraded Fervo Energy to a “hold” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Fervo Energy in a report on Tuesday, June 23rd. Finally, Barclays raised their price target on shares of Fervo Energy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th.

Fervo Energy Stock Performance

Shares of FRVO opened at $23.57 on Thursday. Fervo Energy has a 1-year low of $23.10 and a 1-year high of $42.65. The firm’s fifty day moving average is $34.77.

Fervo Energy (NASDAQ:FRVO) last released its earnings results on Monday, June 22nd. The company reported ($3.72) earnings per share (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.