Fermi Inc. (NASDAQ:FRMI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Fermi Inc. (NASDAQ:FRMI) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.7778.

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fermi in a research note on Monday, March 23rd. Wall Street Zen cut Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Evercore cut Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 target price on the stock. in a research note on Friday, May 15th. UBS Group cut Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a research note on Tuesday, May 5th. Finally, Cantor Fitzgerald assumed coverage on Fermi in a research note on Thursday, April 9th. They set an “overweight” rating and a $8.00 target price on the stock.

Fermi Price Performance

Shares of NASDAQ FRMI opened at $7.14 on Tuesday. The business’s 50 day moving average is $5.83 and its two-hundred day moving average is $8.35. Fermi has a 1-year low of $4.47 and a 1-year high of $36.99. The stock has a market capitalization of $4.55 billion and a P/E ratio of -6.26.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.25). As a group, equities research analysts anticipate that Fermi will post 0.4 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Miles E. Everson sold 427,004 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $4.58, for a total transaction of $1,955,678.32. Following the transaction, the chief financial officer owned 9,969,791 shares of the company’s stock, valued at approximately $45,661,642.78. This represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charles Lynn Hamilton sold 398,140 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $4.58, for a total value of $1,823,481.20. Following the transaction, the insider directly owned 5,525,910 shares in the company, valued at approximately $25,308,667.80. This represents a 6.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,593,748 shares of company stock valued at $68,803,933.

Institutional Trading of Fermi

A number of large investors have recently modified their holdings of the company. Leonteq Securities AG purchased a new stake in shares of Fermi in the fourth quarter valued at approximately $30,000. PNC Financial Services Group Inc. purchased a new stake in shares of Fermi in the fourth quarter valued at approximately $36,000. Aspect Partners LLC purchased a new stake in shares of Fermi in the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. purchased a new stake in shares of Fermi in the fourth quarter valued at approximately $41,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Fermi in the first quarter valued at approximately $54,000.

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.