Fermi (NASDAQ:FRMI) Stock Price Down 6.8% After Insider Selling

Posted by Geri Gentry on Oct 16th, 2026

Fermi Inc. (NASDAQ:FRMI – Get Free Report)’s stock price was down 6.8% during trading on Friday after an insider sold shares in the company. The company traded as low as $3.10 and last traded at $3.16. Approximately 41,118,533 shares were traded during trading, an increase of 161% from the average daily volume of 15,766,526 shares. The stock had previously closed at $3.39.

Specifically, major shareholder Toby R. Neugebauer sold 1,297,200 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $3.15, for a total transaction of $4,086,180.00. Following the sale, the insider directly owned 43,359,176 shares of the company’s stock, valued at $136,581,404.40. This represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Toby R. Neugebauer sold 2,750,000 shares of the stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $3.73, for a total value of $10,257,500.00. Following the transaction, the insider owned 91,609,659 shares of the company’s stock, valued at $341,704,028.07. This represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FRMI shares. Mizuho dropped their target price on Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Stifel Nicolaus dropped their target price on Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Finally, Cantor Fitzgerald dropped their target price on Fermi from $12.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Read Our Latest Research Report on Fermi

Key Stories Impacting Fermi

Here are the key news stories impacting Fermi this week:

Positive Sentiment: MUFG loan amendment reduces near-term debt pressure. Fermi amended financing terms for Project Matador through two indirect subsidiaries, helping ease near-term debt obligations as it develops its 222-megawatt Texas power and AI data-center project. What’s Going On With Fermi Stock Friday?
Positive Sentiment: AMD support continues to validate Project Matador. AMD’s credit support for Fermi’s Texas power lease could improve the project’s financing prospects and strengthen the company’s AI infrastructure growth story. AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
Positive Sentiment: Cantor Fitzgerald retains an “overweight” rating. The firm lowered its price target from $12 to $8 but still sees significant potential upside, providing some analyst support despite a more cautious valuation.
Neutral Sentiment: Investors are awaiting third-quarter results. Fermi is preparing to report earnings, with analysts forecasting a full-year loss of approximately $0.33 per share. The results and management’s commentary on liquidity, construction and lease execution could be important near-term catalysts.
Negative Sentiment: Major shareholder sales are weighing on sentiment. Toby Neugebauer disclosed sales of 2.75 million shares on October 13 and 1.2972 million shares on October 14, worth approximately $10.3 million and $4.1 million, respectively. The transactions reduced his reported holdings by roughly 2.9% each and may signal caution or create additional selling pressure, although he remains a substantial shareholder. Insider Selling: Fermi Major Shareholder Sells Shares
Negative Sentiment: Financing and execution risks remain. While the MUFG amendment and AMD support are constructive, Fermi still must secure funding and convert its planned power capacity and AI-cloud leases into operational, revenue-generating facilities.

Fermi Price Performance

The firm has a market capitalization of $2.03 billion and a P/E ratio of -2.68. The firm has a 50-day moving average price of $5.02 and a two-hundred day moving average price of $5.97.

Fermi (NASDAQ:FRMI – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Sell-side analysts predict that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fermi

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Fermi in the 2nd quarter worth about $38,499,000. BlueCrest Capital Management Ltd purchased a new position in shares of Fermi during the second quarter worth approximately $33,276,000. Alyeska Investment Group L.P. raised its stake in shares of Fermi by 82.4% during the second quarter. Alyeska Investment Group L.P. now owns 2,886,836 shares of the company’s stock valued at $26,443,000 after acquiring an additional 1,303,979 shares in the last quarter. Ratan Capital Management LP bought a new stake in shares of Fermi during the second quarter valued at approximately $19,774,000. Finally, Bank of America Corp DE bought a new stake in shares of Fermi during the second quarter valued at approximately $17,859,000.

Fermi Company Profile

(Get Free Report)

Fermi Inc is an energy and infrastructure company focused on developing large-scale power generation and data center facilities. The company is pursuing an integrated model designed to provide reliable electricity for high-demand computing applications, including artificial intelligence and cloud infrastructure.

Its development activities center on the planned Fermi Nuclear Campus in the Texas Panhandle. The project is expected to combine nuclear power with other generation and energy technologies, potentially including natural gas, renewable energy and battery storage, alongside data center infrastructure.