1,708,587 Fermi Inc. $FRMI Shares Acquired by CenterBook Partners LP

CenterBook Partners LP raised its stake in Fermi Inc. (NASDAQ:FRMI) by 997.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,879,838 shares of the company’s stock after acquiring an additional 1,708,587 shares during the quarter. CenterBook Partners LP’s holdings in Fermi were worth $7,914,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC bought a new stake in Fermi in the 3rd quarter valued at $64,000. Covestor Ltd increased its position in Fermi by 16.2% during the 3rd quarter. Covestor Ltd now owns 243,577 shares of the company’s stock worth $1,025,000 after buying an additional 34,005 shares during the period. Mraz Amerine & Associates Inc. bought a new position in Fermi during the 3rd quarter worth $108,000. Sumitomo Mitsui Trust Group Inc. increased its position in Fermi by 721.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 276,563 shares of the company’s stock worth $1,164,000 after buying an additional 242,912 shares during the period. Finally, Vise Technologies Inc. acquired a new stake in shares of Fermi during the third quarter worth $77,000.

Insider Activity

In related news, major shareholder Toby Neugebauer sold 5,000,000 shares of Fermi stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $1.52, for a total transaction of $7,600,000.00. Following the sale, the insider directly owned 84,813,010 shares of the company’s stock, valued at approximately $128,915,775.20. The trade was a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 12,125,749 shares of company stock worth $28,639,969. Insiders own 2.83% of the company’s stock.

Fermi Stock Up 2.6%

Shares of FRMI traded up $0.04 during midday trading on Friday, hitting $1.57. The company’s stock had a trading volume of 28,708,492 shares, compared to its average volume of 22,888,008. Fermi Inc. has a one year low of $1.44 and a one year high of $25.70. The stock has a market capitalization of $1.01 billion and a price-to-earnings ratio of -1.33. The company’s fifty day simple moving average is $3.88 and its two-hundred day simple moving average is $6.31.

Fermi (NASDAQ:FRMI) last issued its earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same period last year, the company posted ($0.02) EPS. On average, research analysts predict that Fermi Inc. will post -0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FRMI has been the topic of several research reports. Cantor Fitzgerald decreased their price target on shares of Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Mizuho dropped their price objective 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. Finally, Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.86.

Key Headlines Impacting Fermi

Here are the key news stories impacting Fermi this week:

• Positive Sentiment: Neugebauer argued that shareholders, markets and Texas voters have rejected the board’s approach and pushed for Fermi to be sold. The prospect of a sale could offer a path to value, and coverage reported that FRMI shares rose amid the comments. No buyer or transaction terms were announced. Article: Neugebauer calls for Fermi sale
• Neutral Sentiment: Brokerage coverage describes the consensus rating for Fermi as “Moderate Buy,” reflecting existing analyst views rather than a clearly identified new upgrade in the latest reports. Article: Fermi rated Moderate Buy
• Negative Sentiment: Neugebauer disclosed selling 5 million shares on Nov. 5 and 94,000 shares on Nov. 4; another report also cited a sale of about 2.56 million shares on Nov. 3. Although he remains a major shareholder, the sales could weigh on sentiment amid the company’s boardroom conflict. Article: Neugebauer share sales

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.