Fermi Inc. (NASDAQ:FRMI – Get Free Report) major shareholder Toby Neugebauer sold 94,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $1.99, for a total value of $187,060.00. Following the transaction, the insider directly owned 89,813,010 shares of the company’s stock, valued at $178,727,889.90. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Fermi Trading Up 2.6%
Shares of NASDAQ FRMI opened at $1.57 on Friday. The business’s fifty day simple moving average is $3.88 and its 200-day simple moving average is $6.31. Fermi Inc. has a 12-month low of $1.44 and a 12-month high of $25.70.
Fermi (NASDAQ:FRMI – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. On average, research analysts forecast that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Fermi
Several institutional investors have recently bought and sold shares of FRMI. NewEdge Advisors LLC lifted its stake in Fermi by 22.5% during the 2nd quarter. NewEdge Advisors LLC now owns 11,431 shares of the company’s stock valued at $105,000 after acquiring an additional 2,101 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Fermi during the second quarter valued at approximately $41,000. Farther Finance Advisors LLC raised its position in shares of Fermi by 139.1% during the third quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company’s stock worth $44,000 after purchasing an additional 6,083 shares during the period. Moors & Cabot Inc. raised its stake in shares of Fermi by 3.3% in the third quarter. Moors & Cabot Inc. now owns 238,609 shares of the company’s stock valued at $1,005,000 after purchasing an additional 7,605 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in shares of Fermi in the third quarter worth about $42,000.
Analysts Set New Price Targets
A number of analysts have recently commented on FRMI shares. Cantor Fitzgerald cut their target price on shares of Fermi from $12.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Mizuho cut their price target on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Finally, Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.86.
View Our Latest Research Report on Fermi
Trending Headlines about Fermi
Here are the key news stories impacting Fermi this week:
- Positive Sentiment: Neugebauer argued that shareholders, markets and Texas voters have rejected the board’s approach and pushed for Fermi to be sold. The prospect of a sale could offer a path to value, and coverage reported that FRMI shares rose amid the comments. No buyer or transaction terms were announced. Article: Neugebauer calls for Fermi sale
- Neutral Sentiment: Brokerage coverage describes the consensus rating for Fermi as “Moderate Buy,” reflecting existing analyst views rather than a clearly identified new upgrade in the latest reports. Article: Fermi rated Moderate Buy
- Negative Sentiment: Neugebauer disclosed selling 5 million shares on Nov. 5 and 94,000 shares on Nov. 4; another report also cited a sale of about 2.56 million shares on Nov. 3. Although he remains a major shareholder, the sales could weigh on sentiment amid the company’s boardroom conflict. Article: Neugebauer share sales
Fermi Company Profile
Fermi, Inc (NASDAQ: FRMI) is an energy and infrastructure company focused on developing large-scale power and data center facilities for artificial intelligence and other high-performance computing applications. Its business model centers on integrating electricity generation, energy storage and data center infrastructure within a single campus.
The company’s principal development is Project Matador, a planned energy and data center campus in the Texas Panhandle. The project is designed to use a mix of power sources, including nuclear energy, natural gas, solar generation and battery storage, with the goal of providing reliable electricity for data center customers.
Fermi’s activities are currently concentrated in the United States, particularly Texas.
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