Fermi (NASDAQ:FRMI) Shares Up 9.9% – Should You Buy?

Fermi Inc. (NASDAQ:FRMI)’s stock price traded up 9.9% during mid-day trading on Wednesday . The stock traded as high as $5.69 and last traded at $5.8010. 3,734,100 shares changed hands during trading, a decline of 57% from the average session volume of 8,697,531 shares. The stock had previously closed at $5.28.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FRMI shares. Texas Capital raised Fermi to a “strong-buy” rating in a research report on Tuesday, January 20th. Cantor Fitzgerald began coverage on Fermi in a report on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price target for the company. Citizens Jmp began coverage on shares of Fermi in a research note on Monday, February 9th. They issued a “market outperform” rating and a $30.00 price target on the stock. Wall Street Zen downgraded shares of Fermi from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, UBS Group lowered their target price on shares of Fermi from $30.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fermi has a consensus rating of “Buy” and an average price target of $26.89.

Fermi Stock Up 9.8%

The stock has a 50 day simple moving average of $7.81. The company has a market cap of $3.65 billion and a PE ratio of -6.91.

Insider Activity at Fermi

In related news, major shareholder Griffin Perry sold 2,000,000 shares of Fermi stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $5.54, for a total transaction of $11,080,000.00. Following the sale, the insider directly owned 60,946,450 shares in the company, valued at $337,643,333. This trade represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Miles E. Everson sold 427,004 shares of Fermi stock in a transaction 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 sale, the chief financial officer owned 9,969,791 shares in the company, valued at $45,661,642.78. This represents a 4.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,435,207 shares of company stock valued at $67,803,539 over the last quarter.

Institutional Trading of Fermi

Several institutional investors and hedge funds have recently bought and sold shares of the business. ORG Wealth Partners LLC acquired a new stake in Fermi during the 4th quarter worth $151,000. Nisa Investment Advisors LLC purchased a new stake in shares of Fermi in the fourth quarter valued at about $423,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Fermi in the fourth quarter valued at about $84,000. Choreo LLC acquired a new stake in shares of Fermi during the fourth quarter worth about $98,000. Finally, Aspect Partners LLC acquired a new stake in shares of Fermi during the fourth quarter worth about $38,000.

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.