Fervo Energy (NASDAQ:FRVO) Raised to “Buy” at Bank of America

Fervo Energy (NASDAQ:FRVO) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Friday,Benzinga reports. The firm currently has a $36.00 price objective on the stock, down from their previous price objective of $40.00. Bank of America‘s price objective would indicate a potential upside of 55.78% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. William Blair assumed coverage on shares of Fervo Energy in a research note on Monday, June 8th. They issued an “outperform” rating and a $43.00 price target for the company. UBS Group set a $48.00 price objective on shares of Fervo Energy in a report on Wednesday, June 24th. Roth Capital initiated 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. Sanford C. Bernstein started coverage on shares of Fervo Energy in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $47.00 target price for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $46.00 price target on shares of Fervo Energy in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.92.

Fervo Energy Trading Down 5.9%

Shares of NASDAQ FRVO opened at $23.11 on Friday. The business’s 50-day moving average is $33.59. Fervo Energy has a 1-year low of $22.66 and a 1-year high of $42.65.

Fervo Energy (NASDAQ:FRVO) last announced its quarterly earnings data 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 firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $1.20 million.