Fermi (NASDAQ:FRMI) Sets New 52-Week Low – Here’s Why

Fermi Inc. (NASDAQ:FRMI)’s share price hit a new 52-week low on Wednesday . The company traded as low as $7.83 and last traded at $8.04, with a volume of 1182660 shares changing hands. The stock had previously closed at $8.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FRMI shares. UBS Group assumed coverage on Fermi in a research report on Monday, October 27th. They issued a “buy” rating and a $30.00 price objective on the stock. Zacks Research upgraded Fermi to a “hold” rating in a research note on Tuesday, October 28th. Mizuho started coverage on shares of Fermi in a report on Monday, October 27th. They set an “outperform” rating and a $27.00 price objective for the company. Redburn Partners set a $31.00 price objective on shares of Fermi in a research report on Monday, October 27th. Finally, Evercore ISI set a $37.00 target price on shares of Fermi and gave the stock an “outperform” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $31.56.

Fermi Trading Down 2.5%

The stock has a 50-day simple moving average of $18.77.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.84) earnings per share for the quarter.

Fermi Company Profile

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. We have entered into a long-term lease on a site large enough to simultaneously house the next three largest data center campuses by square footage currently in existence.