Fervo Energy (NASDAQ:FRVO) Upgraded to Buy at Bank of America

Bank of America upgraded shares of Fervo Energy (NASDAQ:FRVO) from a neutral rating to a buy rating in a research report released on Friday, MarketBeat reports. They currently have $36.00 price objective on the stock, down from their prior price objective of $40.00.

Other analysts have also recently issued reports about the stock. UBS Group set a $48.00 price objective on shares of Fervo Energy in a research note on Wednesday, June 24th. 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 on the stock. Jefferies Financial Group began coverage on Fervo Energy in a research report on Wednesday, May 27th. They set a “hold” rating and a $42.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Fervo Energy in a research report on Tuesday, June 23rd. Finally, Sanford C. Bernstein initiated coverage on Fervo Energy in a report on Tuesday, June 23rd. They set an “outperform” rating and a $47.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.92.

Fervo Energy Stock Up 6.7%

Shares of Fervo Energy stock opened at $24.65 on Friday. The firm has a fifty day moving average of $33.40. Fervo Energy has a fifty-two week low of $22.50 and a fifty-two week high of $42.65.

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