Fervo Energy (NASDAQ:FRVO) Releases Earnings Results, Misses Expectations By $3.63 EPS

Fervo Energy (NASDAQ:FRVO) released its earnings results on Monday. The company reported ($3.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($3.63), Zacks reports.

Fervo Energy Stock Performance

Shares of NASDAQ:FRVO opened at $35.09 on Monday. Fervo Energy has a 12 month low of $32.39 and a 12 month high of $42.65.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FRVO shares. JPMorgan Chase & Co. began coverage on Fervo Energy in a research note on Monday, June 8th. They set an “overweight” rating and a $47.00 price objective on the stock. Barclays assumed coverage on shares of Fervo Energy in a report on Monday, June 8th. They issued an “overweight” rating and a $47.00 target price on the stock. Guggenheim raised Fervo Energy to a “strong-buy” rating and set a $48.00 price target on the stock in a research report on Monday, June 8th. Sanford C. Bernstein initiated coverage on Fervo Energy in a research note on Wednesday, June 17th. They set an “outperform” rating and a $47.00 target price for the company. Finally, Piper Sandler started coverage on Fervo Energy in a report on Sunday, June 7th. They set an “overweight” rating and a $51.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $45.67.