Fermi Inc. (NASDAQ:FRMI – Get Free Report) shares traded up 2.6% during mid-day trading on Friday. The stock traded as high as $1.62 and last traded at $1.57. 28,569,599 shares traded hands during mid-day trading, an increase of 75% from the average daily volume of 16,305,810 shares. The stock had previously closed at $1.53.
Trending Headlines about Fermi
Here are the key news stories impacting Fermi this week:
- Positive Sentiment: Neugebauer is calling for Fermi to be sold and sharply criticizing Rick Perry and the board. The prospect of a sale may be fueling optimism about a potential strategic outcome. Article: Toby Neugebauer pushes for Fermi sale
- Neutral Sentiment: Brokerage coverage cited in a report puts Fermi at a “Moderate Buy” consensus, though the available article does not describe a new material change in analyst expectations. Article: Fermi rated Moderate Buy
- Negative Sentiment: Neugebauer disclosed sales of 5 million shares on Nov. 5, 94,000 shares on Nov. 4, and 2.56 million shares on Nov. 3. The sales could add pressure to sentiment, even as he remains a major shareholder; the filings do not state his reasons. Article: Neugebauer share sales
- Negative Sentiment: The public clash over the board and Fermi’s direction signals governance and strategic uncertainty. Neugebauer says shareholders, markets, and Texas voters have rejected the board’s approach, raising questions about the company’s path forward. Article: Neugebauer criticizes Fermi board
Analyst Upgrades and Downgrades
Several analysts recently commented on FRMI shares. Mizuho cut their target price on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Cantor Fitzgerald cut their price target on shares of Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Finally, Weiss Ratings cut Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fermi presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.86.
Get Our Latest Research Report on FRMI
Fermi Trading Up 2.6%
The firm has a market cap of $1.01 billion and a P/E ratio of -1.33. The business’s fifty day moving average price is $3.95 and its two-hundred day moving average price is $6.35.
Fermi (NASDAQ:FRMI – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Research analysts predict that Fermi Inc. will post -0.33 EPS for the current fiscal year.
Insider Transactions at Fermi
In other Fermi news, major shareholder Toby Neugebauer sold 5,000,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $1.52, for a total transaction of $7,600,000.00. Following the completion of the sale, the insider owned 84,813,010 shares of the company’s stock, valued at $128,915,775.20. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 12,125,749 shares of company stock worth $28,639,969 over the last three months. 2.83% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in shares of Fermi in the second quarter worth about $41,000. NewEdge Advisors LLC acquired a new position in shares of Fermi during the first quarter valued at about $54,000. SteelPeak Wealth LLC bought a new stake in shares of Fermi in the third quarter valued at about $42,000. Farther Finance Advisors LLC lifted its stake in shares of Fermi by 139.1% in the third quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company’s stock valued at $44,000 after buying an additional 6,083 shares during the period. Finally, Financial Management Professionals Inc. acquired a new stake in Fermi during the second quarter worth about $104,000.
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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