Fermi Inc. (NASDAQ:FRMI – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $20.6667.
A number of research analysts have commented on FRMI shares. Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective for the company. in a report on Friday, May 15th. Cantor Fitzgerald began coverage on shares of Fermi in a research note on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price objective for the company. UBS Group lowered shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a report on Tuesday, May 5th. Finally, Stifel Nicolaus decreased their target price on shares of Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd.
Read Our Latest Stock Analysis on Fermi
Fermi Stock Down 15.5%
Fermi (NASDAQ:FRMI – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.25). As a group, research analysts expect that Fermi will post -0.33 EPS for the current fiscal year.
Insider Activity
In other news, Director James Richard Perry sold 863,637 shares of Fermi stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total value of $6,313,186.47. Following the transaction, the director owned 15,827,807 shares in the company, valued at approximately $115,701,269.17. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mesut Uzman sold 79,509 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $6.31, for a total value of $501,701.79. Following the sale, the insider owned 670,491 shares of the company’s stock, valued at $4,230,798.21. This represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,022,178 shares of company stock valued at $7,313,580.
Institutional Trading of Fermi
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB purchased a new stake in shares of Fermi during the second quarter valued at approximately $511,000. Financial Management Professionals Inc. purchased a new position in shares of Fermi in the second quarter worth $104,000. Byrne Asset Management LLC purchased a new stake in Fermi during the 2nd quarter valued at $109,000. M.E. Allison & CO. Inc. purchased a new stake in Fermi during the 2nd quarter valued at $137,000. Finally, NewEdge Advisors LLC bought a new stake in Fermi in the 1st quarter worth $54,000.
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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