MIdWestOne Financial Group Inc. purchased a new stake in shares of Fermi Inc. (NASDAQ:FRMI – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 545,474 shares of the company’s stock, valued at approximately $4,364,000.
A number of other institutional investors also recently modified their holdings of the business. Leonteq Securities AG purchased a new stake in shares of Fermi during the 4th quarter valued at approximately $30,000. PNC Financial Services Group Inc. purchased a new stake in shares of Fermi during the 4th quarter valued at approximately $36,000. Aspect Partners LLC bought a new stake in Fermi during the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. bought a new stake in Fermi during the 4th quarter worth approximately $41,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in Fermi during the 4th quarter worth approximately $84,000.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on FRMI shares. Wall Street Zen lowered shares of Fermi from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 target price on the stock. in a report on Friday, May 15th. Cantor Fitzgerald started coverage on shares of Fermi in a report on Thursday, April 9th. They set an “overweight” rating and a $8.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fermi in a report on Monday, March 23rd. Finally, 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. Two 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 given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.78.
Fermi Price Performance
Shares of NASDAQ:FRMI opened at $6.95 on Friday. The company’s fifty day moving average price is $5.80 and its 200-day moving average price is $8.36. Fermi Inc. has a one year low of $4.47 and a one year high of $36.99. The firm has a market capitalization of $4.43 billion and a price-to-earnings ratio of -6.10.
Fermi (NASDAQ:FRMI – Get Free Report) last announced 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 research analysts expect that Fermi Inc. will post 0.4 EPS for the current year.
Insider Transactions at Fermi
In other Fermi news, insider Mesut Uzman sold 79,509 shares of the business’s 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 transaction, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Miles E. Everson sold 427,004 shares of Fermi stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,955,678.32. Following the sale, the chief financial officer directly owned 9,969,791 shares in the company, valued at $45,661,642.78. The trade was a 4.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 13,593,748 shares of company stock valued at $68,803,933.
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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