Fermi Inc. (NASDAQ:FRMI) Receives $20.67 Average PT from Brokerages

Fermi Inc. (NASDAQ:FRMI) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $20.6667.

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Fermi from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fermi in a research note on Thursday, July 2nd. Stifel Nicolaus decreased their target price on shares of Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. UBS Group cut Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a report on Tuesday, May 5th. Finally, Mizuho dropped their price target on Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th.

Fermi Stock Performance

Shares of FRMI stock opened at $6.31 on Wednesday. Fermi has a fifty-two week low of $4.47 and a fifty-two week high of $36.99. The stock’s fifty day moving average is $7.19 and its two-hundred day moving average is $7.35. The firm has a market capitalization of $4.02 billion and a P/E ratio of -5.54.

Fermi (NASDAQ:FRMI) last released its earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). On average, equities analysts forecast that Fermi will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In other Fermi news, Director James Richard Perry sold 863,637 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total value of $6,313,186.47. Following the completion of the sale, the director directly owned 15,827,807 shares of the company’s stock, valued at $115,701,269.17. This trade represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mesut Uzman sold 79,509 shares of Fermi stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total value of $501,701.79. Following the transaction, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. This represents a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,022,178 shares of company stock worth $7,313,580 in the last three months.

Institutional Investors Weigh In On Fermi

A number of hedge funds have recently modified their holdings of the company. Leonteq Securities AG purchased a new position in Fermi during the fourth quarter worth about $30,000. PNC Financial Services Group Inc. acquired a new position in Fermi in the 4th quarter valued at about $36,000. Aspect Partners LLC purchased a new stake in shares of Fermi in the 4th quarter valued at approximately $38,000. SBI Securities Co. Ltd. purchased a new stake in shares of Fermi in the 4th quarter valued at approximately $41,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Fermi during the 1st quarter worth approximately $54,000.

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. 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.