Hsbc Holdings PLC acquired a new stake in Fermi Inc. (NASDAQ:FRMI – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,737 shares of the company’s stock, valued at approximately $1,056,000.
Several other hedge funds and other institutional investors have also modified their holdings of FRMI. Leonteq Securities AG acquired a new position in Fermi in the 4th quarter valued at about $30,000. PNC Financial Services Group Inc. acquired a new stake in Fermi during the fourth quarter worth approximately $36,000. Aspect Partners LLC bought a new stake in shares of Fermi during the fourth quarter worth approximately $38,000. SBI Securities Co. Ltd. bought a new stake in shares of Fermi during the fourth quarter worth approximately $41,000. Finally, MML Investors Services LLC acquired a new position in shares of Fermi in the fourth quarter valued at approximately $81,000.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Evercore lowered Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 target price on the stock. in a research note on Friday, May 15th. UBS Group lowered Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price objective on the stock. in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fermi in a research report on Thursday, July 2nd. Cantor Fitzgerald assumed coverage on Fermi in a report on Thursday, April 9th. They set an “overweight” rating and a $8.00 target price for the company. Finally, Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fermi has an average rating of “Moderate Buy” and an average target price of $22.44.
Insiders Place Their Bets
In other news, insider Mesut Uzman sold 79,509 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total transaction of $501,701.79. Following the completion of the transaction, the insider owned 670,491 shares of the company’s stock, valued at approximately $4,230,798.21. The trade was a 10.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Richard Perry sold 863,637 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total value of $6,313,186.47. Following the completion of the sale, the director directly owned 15,827,807 shares in the company, valued at $115,701,269.17. This trade represents a 5.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,022,178 shares of company stock valued at $7,313,580 in the last three months.
Fermi Trading Down 4.2%
NASDAQ FRMI opened at $6.31 on Tuesday. The firm’s 50 day simple moving average is $7.04 and its 200 day simple moving average is $7.60. The firm has a market capitalization of $4.02 billion and a price-to-earnings ratio of -5.54. Fermi Inc. has a 1 year low of $4.47 and a 1 year high of $36.99.
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). On average, equities research analysts forecast that Fermi Inc. will post 0.34 earnings per share for the current year.
Fermi 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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