On September 3, Fervo Energy Co. fell 5.01% in regular trading, trading at $17.075/share, with turnover of approximately $75.86 million. The decline marks the second consecutive session of profit-taking following a single-day surge of over 22% driven by the company's landmark geothermal power purchase agreement with Google.

Fervo Energy announced a 396-megawatt power purchase agreement with Alphabet's Google for its Cape Station enhanced geothermal project in Utah, which is slated to begin delivering power in 2028. The agreement also includes an option for Google to expand offtake by approximately 600 megawatts by June 2030, bringing total potential capacity to nearly 1 gigawatt. The deal-day session saw trading volume surge to $665 million, more than eight times the prior session's level. Since then, selling pressure from short-term profit-taking has been significant.

Notably, Fervo Energy's stock had declined more than 40% cumulatively since its May IPO prior to the Google announcement. Analysts have maintained a broadly constructive view, with Piper Sandler initiating coverage at Overweight with a $51 price target and Jefferies initiating at Hold with a $42 target.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)