Tribune Investment Group LP bought a new stake in Fermi Inc. (NASDAQ:FRMI – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 107,200 shares of the company’s stock, valued at approximately $982,000.
A number of other large investors also recently made changes to their positions in the company. Two Seas Capital LP acquired a new stake in Fermi during the 2nd quarter worth approximately $3,230,000. Bank of Nova Scotia bought a new stake in Fermi in the 2nd quarter valued at $7,771,000. Ieq Capital LLC acquired a new position in Fermi in the 2nd quarter valued at $364,000. Texas Capital Bank Wealth Management Services Inc bought a new position in Fermi during the 2nd quarter worth $13,334,000. Finally, BlackRock Inc. bought a new position in Fermi during the 2nd quarter worth $38,499,000.
Analyst Ratings Changes
A number of research firms have recently weighed in on FRMI. 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. UBS Group downgraded shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price target on the stock. in a research note on Tuesday, May 5th. Stifel Nicolaus lowered their price target on shares of Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, Evercore downgraded shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective for the company. in a report on Friday, May 15th. Two research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.67.
Fermi Price Performance
Shares of NASDAQ:FRMI opened at $5.92 on Monday. The company has a market capitalization of $3.79 billion and a P/E ratio of -5.02. Fermi Inc. has a 1 year low of $4.47 and a 1 year high of $36.99. The business’s 50 day simple moving average is $7.14 and its 200 day simple moving average is $7.06.
Fermi (NASDAQ:FRMI – Get Free Report) last posted its quarterly earnings data 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 period in the prior year, the business posted ($0.02) EPS. On average, sell-side analysts anticipate that Fermi Inc. will post -0.33 EPS for the current fiscal year.
Insider Buying and Selling at Fermi
In related news, Director James Richard Perry sold 863,637 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total value of $6,313,186.47. Following the transaction, the director owned 15,827,807 shares in the company, valued at approximately $115,701,269.17. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mesut Uzman sold 79,509 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total value of $501,701.79. Following the completion of the transaction, the insider owned 670,491 shares in the company, valued at $4,230,798.21. The trade was a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,022,178 shares of company stock worth $7,313,580.
Fermi Company 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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