Fermi (NASDAQ:FRMI) Major Shareholder Toby Neugebauer Sells 2,750,000 Shares of Company Stock

Fermi Inc. (NASDAQ:FRMI) major shareholder Toby Neugebauer sold 2,750,000 shares of the stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.73, for a total transaction of $10,257,500.00. Following the sale, the insider owned 91,609,659 shares in the company, valued at $341,704,028.07. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Fermi Stock Performance

Shares of Fermi stock traded up $0.23 during trading on Thursday, reaching $3.39. 21,714,987 shares of the company’s stock were exchanged, compared to its average volume of 15,714,058. Fermi Inc. has a 1-year low of $3.00 and a 1-year high of $31.47. The company has a market cap of $2.17 billion and a P/E ratio of -2.87. The firm’s 50-day moving average price is $5.07 and its 200 day moving average price is $5.99.

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

Hedge Funds Weigh In On Fermi

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in Fermi in the 2nd quarter valued at about $41,000. Farther Finance Advisors LLC lifted its position in shares of Fermi by 139.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company’s stock worth $44,000 after buying an additional 6,083 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Fermi during the 1st quarter worth approximately $54,000. Resona Asset Management Co. Ltd. bought a new position in shares of Fermi during the 1st quarter worth approximately $73,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Fermi in the 1st quarter worth approximately $91,000.

Analyst Ratings Changes

FRMI has been the topic of a number of analyst reports. Weiss Ratings lowered shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Stifel Nicolaus decreased 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. Finally, Mizuho lowered 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. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Fermi presently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Fermi Company Profile

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.