Fermi (NASDAQ:FRMI – Get Free Report) had its target price cut by stock analysts at Mizuho from $27.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 52.14% from the stock’s current price.
FRMI has been the subject of several other reports. Evercore cut Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price target for the company. in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fermi in a research note on Thursday, July 2nd. Wall Street Zen lowered Fermi from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Cantor Fitzgerald assumed coverage on Fermi in a research report on Thursday, April 9th. They set an “overweight” rating and a $8.00 price target for the company. Finally, Stifel Nicolaus decreased their price target on shares of Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.67.
View Our Latest Analysis on FRMI
Fermi Price Performance
Fermi (NASDAQ:FRMI – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). As a group, equities analysts anticipate that Fermi will post 0.34 EPS for the current fiscal year.
Insider Activity
In related news, insider Mesut Uzman sold 79,509 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $6.31, for a total value of $501,701.79. Following the transaction, the insider owned 670,491 shares of the company’s stock, valued at approximately $4,230,798.21. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Richard Perry sold 863,637 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total transaction of $6,313,186.47. Following the sale, the director owned 15,827,807 shares of the company’s stock, valued at $115,701,269.17. This trade represents a 5.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,022,178 shares of company stock valued at $7,313,580 in the last ninety days.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC purchased a new position in shares of Fermi during the 4th quarter worth $151,000. Nisa Investment Advisors LLC bought a new position in Fermi in the 4th quarter worth $423,000. Prime Capital Investment Advisors LLC purchased a new position in Fermi during the fourth quarter valued at $84,000. Choreo LLC purchased a new position in Fermi during the fourth quarter valued at $98,000. Finally, Aspect Partners LLC bought a new stake in Fermi during the fourth quarter valued at about $38,000.
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. 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.
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