Fermi (NASDAQ:FRMI) Stock Price Down 7.6% – Here’s What Happened

Fermi Inc. (NASDAQ:FRMI) shares fell 7.6% on Wednesday . The company traded as low as $16.85 and last traded at $16.97. 872,415 shares traded hands during trading, a decline of 84% from the average session volume of 5,513,438 shares. The stock had previously closed at $18.36.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FRMI shares. Zacks Research raised shares of Fermi to a “hold” rating in a report on Tuesday, October 28th. Macquarie restated an “outperform” rating and issued a $35.00 price objective on shares of Fermi in a research report on Wednesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fermi in a research report on Wednesday, November 12th. UBS Group initiated coverage on Fermi in a report on Monday, October 27th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Evercore ISI set a $37.00 price target on Fermi and gave the stock an “outperform” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $31.56.

Fermi Price Performance

Fermi (NASDAQ:FRMI) last posted its earnings results on Monday, November 10th. The company reported ($0.84) EPS 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.