The Premier League strugglers have been linked with former striker Peter Crouch and defender Chris Samba.
And with the transfer window closing on Thursday night, time is running out for Rangers to strengthen in their battle against relegation.
Fernandes is optimistic the future is looking brighter at Loftus Road following the appointment of Harry Redknapp as manager in November.
"It's not been a bed of roses but we've still got our spirits up. Harry's brought a new sense of belief," Fernandes said.
"We're working on a couple of players and the team have picked up points since Harry's come in. So we're moderately optimistic. We'll give it our best shot, that's for sure.
"One thing about QPR though - I mean even I get shocked when I see some of the names that are thrown out. There's a name every day.
"We'll wait and see what happens but we'll try and get a couple of players in.
"And where we've always felt we've been a little bit short we can proceed. And if not, I think Harry feels he has got enough to keep going."