Weiss Asset Management LP Has $14.10 Million Holdings in Fermi Inc. $FRMI

Weiss Asset Management LP lifted its holdings in Fermi Inc. (NASDAQ:FRMI) by 431.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,415,027 shares of the company’s stock after purchasing an additional 1,960,764 shares during the quarter. Weiss Asset Management LP owned 0.38% of Fermi worth $14,104,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FRMI. ORG Wealth Partners LLC bought a new position in Fermi in the fourth quarter valued at $151,000. Nisa Investment Advisors LLC bought a new stake in Fermi during the 4th quarter worth about $423,000. Prime Capital Investment Advisors LLC bought a new stake in Fermi during the 4th quarter worth about $84,000. Choreo LLC acquired a new position in shares of Fermi during the 4th quarter worth about $98,000. Finally, Aspect Partners LLC acquired a new position in shares of Fermi during the 4th quarter worth about $38,000.

Insider Buying and Selling

In other Fermi news, insider Mesut Uzman sold 79,509 shares of the business’s stock in a transaction that occurred 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 transaction, the insider owned 670,491 shares of the company’s stock, valued at $4,230,798.21. The trade was a 10.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Richard Perry sold 863,637 shares of the company’s stock in a transaction that occurred on 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 owned 15,827,807 shares in the company, valued at $115,701,269.17. This represents a 5.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,022,178 shares of company stock worth $7,313,580.

Analyst Ratings Changes

A number of research firms recently issued reports on FRMI. Cantor Fitzgerald started coverage on Fermi in a research report on Thursday, April 9th. They issued an “overweight” rating and a $8.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Fermi in a research report on Thursday, July 2nd. UBS Group downgraded Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price target for the company. in a research note on Tuesday, May 5th. Stifel Nicolaus lowered their price target on Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Finally, Wall Street Zen cut Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Fermi currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.44.

Fermi Price Performance

Shares of FRMI opened at $7.40 on Friday. The company has a market cap of $4.72 billion and a PE ratio of -6.49. The firm has a 50-day moving average of $7.17 and a 200-day moving average of $7.51. Fermi Inc. has a one year low of $4.47 and a one year high of $36.99.

Fermi (NASDAQ:FRMI) last issued its earnings results 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). Analysts expect that Fermi Inc. will post 0.34 earnings per share for the current year.

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.