FRVO is trading 6.2% up at $34.49 in pre-market, driven by positive sentiment following its Q1 2026 earnings report on June 22, 2026. - The company highlighted significant project progress at Cape Station, including commissioning of GeoBlock Unit 1 and commencement of Phase 2 construction. - Fervo also reported strong commercial momentum with 658 MW of binding power purchase agreements and a 3 GW framework agreement with Google. - Analyst coverage remains broadly bullish, with Strong Buy–leaning ratings and meaningful upside targets.