Fermi (NASDAQ:FRMI) Stock Price Down 5.3% – Here’s What Happened

Fermi Inc. (NASDAQ:FRMI)’s share price fell 5.3% during mid-day trading on Friday. The stock traded as low as $3.46 and last traded at $3.4650. 6,747,449 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 15,205,410 shares. The stock had previously closed at $3.66.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FRMI shares. Stifel Nicolaus lowered their price objective on shares of Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Weiss Ratings cut shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Finally, Mizuho cut their price objective on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Two 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 issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Fermi Price Performance

The business’s fifty day simple moving average is $5.29 and its two-hundred day simple moving average is $6.08. The company has a market cap of $2.22 billion and a PE ratio of -2.94.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 6,083 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Fermi during the second quarter worth about $1,845,000. Tidal Investments LLC boosted its position in Fermi by 348.2% in the 2nd quarter. Tidal Investments LLC now owns 173,114 shares of the company’s stock valued at $1,586,000 after buying an additional 134,486 shares during the period. Whetstone Capital Advisors LLC acquired a new position in shares of Fermi in the second quarter worth $12,009,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Fermi in the second quarter worth $33,276,000.

About Fermi

Fermi Inc is an energy and infrastructure company focused on developing large-scale power generation and data center facilities. The company is pursuing an integrated model designed to provide reliable electricity for high-demand computing applications, including artificial intelligence and cloud infrastructure.

Its development activities center on the planned Fermi Nuclear Campus in the Texas Panhandle. The project is expected to combine nuclear power with other generation and energy technologies, potentially including natural gas, renewable energy and battery storage, alongside data center infrastructure.