Insider Selling: Fermi (NASDAQ:FRMI) Major Shareholder Sells $187,060.00 in Stock

Fermi Inc. (NASDAQ:FRMI) major shareholder Toby Neugebauer sold 94,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $1.99, for a total value of $187,060.00. Following the sale, the insider owned 89,813,010 shares of the company’s stock, valued at $178,727,889.90. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Fermi Price Performance

Shares of NASDAQ FRMI opened at $1.57 on Friday. The stock has a fifty day moving average price of $3.88 and a 200 day moving average price of $6.31. Fermi Inc. has a 1-year low of $1.44 and a 1-year high of $25.70. The company has a market cap of $1.01 billion and a PE ratio of -1.33.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. During the same quarter last year, the firm earned ($0.02) earnings per share. Analysts anticipate that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FRMI shares. Cantor Fitzgerald dropped 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 reduced their price objective on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. Finally, Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.86.

Institutional Investors Weigh In On Fermi

Several institutional investors have recently made changes to their positions in FRMI. BlackRock Inc. acquired a new position in shares of Fermi during the 2nd quarter worth $38,499,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Fermi in the second quarter valued at about $33,276,000. Alyeska Investment Group L.P. lifted its stake in shares of Fermi by 82.4% in the second quarter. Alyeska Investment Group L.P. now owns 2,886,836 shares of the company’s stock valued at $26,443,000 after purchasing an additional 1,303,979 shares during the period. Ratan Capital Management LP acquired a new stake in shares of Fermi in the second quarter valued at about $19,774,000. Finally, Bank of America Corp DE purchased a new stake in Fermi during the second quarter worth about $17,859,000.

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.