Fermi (NASDAQ:FRMI) Announces Earnings Results

Fermi (NASDAQ:FRMI) released its earnings results on Monday. The company reported ($0.84) earnings per share (EPS) for the quarter, Zacks reports.

Fermi Price Performance

FRMI traded down $0.57 on Wednesday, reaching $21.34. The company had a trading volume of 2,545,001 shares, compared to its average volume of 5,604,665. Fermi has a 1 year low of $18.70 and a 1 year high of $36.99.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Zacks Research raised Fermi to a “hold” rating in a research report on Tuesday, October 28th. Rothschild & Co Redburn assumed coverage on Fermi in a report on Monday, October 27th. They issued a “buy” rating and a $31.00 price target on the stock. Stifel Nicolaus started coverage on shares of Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $29.00 target price on the stock. Redburn Partners set a $31.00 price objective on shares of Fermi in a research note on Monday, October 27th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Fermi in a research note on Wednesday. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $31.56.

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.