Fermi (NASDAQ:FRMI) Issues Earnings Results

Fermi (NASDAQ:FRMI) released its quarterly earnings results on Monday. The company reported ($0.84) EPS for the quarter, Zacks reports.

Fermi Price Performance

Shares of NASDAQ FRMI traded down $0.43 during midday trading on Wednesday, reaching $21.48. 2,606,388 shares of the company were exchanged, compared to its average volume of 5,609,865. Fermi has a 1 year low of $18.70 and a 1 year high of $36.99.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Rothschild & Co Redburn initiated coverage on Fermi in a report on Monday, October 27th. They issued a “buy” rating and a $31.00 price objective on the stock. Macquarie assumed coverage on Fermi in a research note on Monday, October 27th. They issued an “outperform” rating and a $35.00 price objective for the company. Evercore ISI set a $37.00 price objective on shares of Fermi and gave the company an “outperform” rating in a report on Monday, October 27th. Redburn Partners set a $31.00 target price on Fermi in a research note on Monday, October 27th. Finally, Zacks Research upgraded shares of Fermi to a “hold” rating in a research note on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $31.56.

About Fermi

Fermi’s mission is to power the artificial intelligence (“AI”) needs of tomorrow. We are an advanced energy and hyperscaler development company purpose-built for the AI era. Our mission is to deliver up to 11 gigawatts (“GW”) of low-carbon, HyperRedundant™, and on-demand power directly to the world’s most compute-intensive businesses with 1.1 GW of power projected to be online by the end of 2026.