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

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

Fervo Energy Stock Performance

Shares of Fervo Energy stock opened at $35.09 on Monday. Fervo Energy has a 1-year low of $32.39 and a 1-year high of $42.65.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FRVO. Guggenheim upgraded shares of Fervo Energy to a “strong-buy” rating and set a $48.00 target price on the stock in a report on Monday, June 8th. Bank of America began coverage on Fervo Energy in a research note on Monday, June 8th. They issued a “neutral” rating and a $40.00 price target on the stock. Piper Sandler initiated coverage on Fervo Energy in a research report on Sunday, June 7th. They set an “overweight” rating and a $51.00 price objective for the company. William Blair started coverage on Fervo Energy in a research report on Monday, June 8th. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, Sanford C. Bernstein began coverage on Fervo Energy in a research note on Wednesday, June 17th. They set an “outperform” rating and a $47.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $45.67.