WINTON GROUP Ltd Trims Stock Position in Fermi Inc. $FRMI

WINTON GROUP Ltd trimmed its stake in shares of Fermi Inc. (NASDAQ:FRMI) by 46.4% in the second quarter, Holdings Channel reports. The fund owned 130,215 shares of the company’s stock after selling 112,797 shares during the period. WINTON GROUP Ltd’s holdings in Fermi were worth $1,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Fermi in the second quarter valued at approximately $38,499,000. Alyeska Investment Group L.P. increased its stake in Fermi by 82.4% in the 2nd quarter. Alyeska Investment Group L.P. now owns 2,886,836 shares of the company’s stock valued at $26,443,000 after buying an additional 1,303,979 shares during the period. Weiss Asset Management LP raised its position in Fermi by 431.6% during the 1st quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock worth $14,104,000 after buying an additional 1,960,764 shares during the last quarter. Ratan Capital Management LP purchased a new position in Fermi during the 2nd quarter worth $19,774,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Fermi in the 4th quarter worth $16,549,000.

Insider Activity at Fermi

In related news, Director James Perry sold 863,637 shares of the 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 sale, the director directly owned 15,827,807 shares of the company’s stock, valued at approximately $115,701,269.17. This represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

FRMI has been the topic of a number of recent analyst reports. Mizuho dropped their price target on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Finally, Stifel Nicolaus lowered their price objective on Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Fermi Stock Performance

Shares of FRMI stock opened at $5.50 on Monday. The stock has a fifty day moving average price of $6.13 and a 200 day moving average price of $6.66. The stock has a market cap of $3.52 billion and a PE ratio of -4.66. Fermi Inc. has a 1 year low of $4.47 and a 1 year high of $36.99.

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

Fermi Profile

Fermi Inc is an energy and digital infrastructure company developing large-scale power-generation and data-center facilities to support energy-intensive computing, including artificial intelligence applications. Its business focuses on integrating electricity generation, transmission infrastructure and data-center capacity within dedicated campuses.

The company’s primary development effort is the Fermi America project near Amarillo, Texas, also referred to as Project Matador. The planned campus is intended to use a diversified energy portfolio that may include natural gas, nuclear power, solar generation and battery storage, with the goal of providing reliable electricity for data centers and other high-demand technology users.

Fermi’s operations are currently centered on the United States, particularly Texas.