Fermi (NASDAQ:FRMI) Trading Up 5.7% – What’s Next?

Fermi Inc. (NASDAQ:FRMI)’s stock price rose 5.7% during trading on Wednesday . The stock traded as high as $15.10 and last traded at $14.91. Approximately 469,249 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 5,422,424 shares. The stock had previously closed at $14.10.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Berenberg Bank began coverage on Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $37.00 price objective on the stock. Zacks Research raised shares of Fermi to a “hold” rating in a report on Tuesday, October 28th. Rothschild & Co Redburn began coverage on Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $31.00 target price for the company. Rothschild Redb upgraded shares of Fermi to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Redburn Partners set a $31.00 price objective on shares of Fermi in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Fermi currently has a consensus rating of “Buy” and an average price target of $31.56.

Fermi Price Performance

Fermi (NASDAQ:FRMI) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.84) earnings per share for the quarter.

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.