Shares of Fermi Inc. (NASDAQ:FRMI – Get Free Report) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.7778.
Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Fermi in a report on Monday, March 23rd. Cantor Fitzgerald assumed coverage on shares of Fermi in a report on Thursday, April 9th. They set an “overweight” rating and a $8.00 price target for the company. Citigroup assumed coverage on shares of Fermi in a report on Monday, February 9th. They issued an “outperform” rating for the company. Texas Capital raised shares of Fermi to a “strong-buy” rating in a report on Tuesday, January 20th. Finally, Citizens Jmp assumed coverage on shares of Fermi in a report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 price objective for the company.
View Our Latest Stock Report on Fermi
Key Stories Impacting Fermi
- Positive Sentiment: Management says it filed a preliminary consent revocation statement to counter former CEO Toby Neugebauer’s effort to rally shareholders ahead of the June meeting, arguing the board is acting in shareholders’ best interests and highlighting momentum behind Fermi 2.0. Fermi Files Preliminary Consent Revocation Statement
- Positive Sentiment: Toby Neugebauer released an open letter and a follow-up statement seeking to persuade shareholders that protecting Fermi from “rogue contractors” is a fiduciary duty, signaling a likely high-turnout vote that could resolve the control fight. Open Letter to Fellow Shareholders
Insider Activity at Fermi
In related news, insider Charles Lynn Hamilton sold 398,140 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total value of $1,823,481.20. Following the completion of the sale, the insider owned 5,525,910 shares of the company’s stock, valued at $25,308,667.80. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Miles E. Everson sold 427,004 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $4.58, for a total transaction of $1,955,678.32. Following the completion of the sale, the chief financial officer directly owned 9,969,791 shares of the company’s stock, valued at $45,661,642.78. The trade was a 4.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,435,207 shares of company stock worth $67,803,539.
Institutional Investors Weigh In On Fermi
Several institutional investors have recently bought and sold shares of the stock. Weiss Asset Management LP raised its position in Fermi by 431.6% in the first quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock worth $14,104,000 after acquiring an additional 1,960,764 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Fermi in the fourth quarter worth about $16,549,000. M&G PLC bought a new stake in Fermi in the fourth quarter worth about $14,443,000. Renaissance Technologies LLC raised its position in Fermi by 311.3% in the first quarter. Renaissance Technologies LLC now owns 1,403,700 shares of the company’s stock worth $8,198,000 after acquiring an additional 1,062,400 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Fermi in the fourth quarter worth about $11,067,000.
Fermi Stock Performance
Shares of FRMI opened at $5.87 on Friday. Fermi has a 1 year low of $4.47 and a 1 year high of $36.99. The company has a market cap of $3.74 billion and a price-to-earnings ratio of -6.99. The firm has a fifty day moving average of $6.13 and a 200-day moving average of $10.23.
Fermi (NASDAQ:FRMI – Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.25). Analysts predict that Fermi will post 0.4 EPS for the current year.
About Fermi
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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