Fermi (NASDAQ:FRMI) Reaches New 52-Week Low – Should You Sell?

Fermi Inc. (NASDAQ:FRMI) reached a new 52-week low during trading on Tuesday. The stock traded as low as $2.97 and last traded at $3.02, with a volume of 21,869,767 shares changing hands. The stock had previously closed at $3.16.

Analyst Upgrades and Downgrades

FRMI has been the topic of a number of recent research reports. Mizuho reduced their price target on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Stifel Nicolaus dropped their price objective on shares of Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Finally, Cantor Fitzgerald cut their target price on shares of Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Fermi Stock Performance

The stock has a 50 day simple moving average of $4.90 and a 200 day simple moving average of $5.93.

Fermi (NASDAQ:FRMI) last issued its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same period in the previous year, the company posted ($0.02) earnings per share. Sell-side analysts expect that Fermi Inc. will post -0.33 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Toby R. Neugebauer sold 2,750,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $3.73, for a total transaction of $10,257,500.00. Following the transaction, the insider directly owned 91,609,659 shares of the company’s stock, valued at approximately $341,704,028.07. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On Fermi

Institutional investors and hedge funds have recently bought and sold shares of the stock. SteelPeak Wealth LLC purchased a new stake in shares of Fermi during the third quarter valued at approximately $42,000. Farther Finance Advisors LLC lifted its position in shares of Fermi by 139.1% during the third quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company’s stock worth $44,000 after purchasing an additional 6,083 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Fermi in the second quarter valued at $1,845,000. Tidal Investments LLC lifted its holdings in Fermi by 348.2% in the 2nd quarter. Tidal Investments LLC now owns 173,114 shares of the company’s stock worth $1,586,000 after buying an additional 134,486 shares in the last quarter. Finally, Whetstone Capital Advisors LLC purchased a new stake in shares of Fermi during the second quarter worth about $12,009,000.

Fermi Company Profile

Fermi Inc is an energy and infrastructure company focused on developing large-scale power generation and data center facilities. The company is pursuing an integrated model designed to provide reliable electricity for high-demand computing applications, including artificial intelligence and cloud infrastructure.

Its development activities center on the planned Fermi Nuclear Campus in the Texas Panhandle. The project is expected to combine nuclear power with other generation and energy technologies, potentially including natural gas, renewable energy and battery storage, alongside data center infrastructure.