Fermi’s (NASDAQ:FRMI – Get Free Report) quiet period is set to expire on Monday, November 10th. Fermi had issued 32,500,000 shares in its IPO on October 1st. The total size of the offering was $682,500,000 based on an initial share price of $21.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on FRMI. Berenberg Bank began coverage on shares of Fermi in a research report on Monday, October 27th. They issued a “buy” rating and a $37.00 price target for the company. Mizuho began coverage on Fermi in a research note on Monday, October 27th. They set an “outperform” rating and a $27.00 price objective on the stock. UBS Group assumed coverage on Fermi in a report on Monday, October 27th. They issued a “buy” rating and a $30.00 price objective for the company. Rothschild Redb raised Fermi to a “strong-buy” rating in a report on Monday, October 27th. Finally, Rothschild & Co Redburn initiated coverage on Fermi in a research report on Monday, October 27th. They issued a “buy” rating and a $31.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Fermi presently has an average rating of “Buy” and a consensus target price of $31.56.
Get Our Latest Stock Analysis on Fermi
Fermi Price Performance
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.
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