Fermi Inc. (NASDAQ:FRMI) Receives $20.67 Consensus Price Target from Brokerages

Fermi Inc. (NASDAQ:FRMI) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.6667.

Several research analysts have recently issued reports on the stock. Mizuho cut their target price 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. Weiss Ratings cut shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Evercore downgraded shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective for the company. in a research note on Friday, May 15th. Wall Street Zen cut Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, Stifel Nicolaus lowered their price target on Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd.

Insider Buying and Selling

In other Fermi news, insider Mesut Uzman sold 79,509 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $6.31, for a total value of $501,701.79. Following the completion of the transaction, the insider directly owned 670,491 shares in the company, valued at approximately $4,230,798.21. This represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Richard Perry sold 863,637 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total transaction of $6,313,186.47. Following the completion of the sale, the director owned 15,827,807 shares of the company’s stock, valued at $115,701,269.17. This trade represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,022,178 shares of company stock valued at $7,313,580.

Hedge Funds Weigh In On Fermi

A number of hedge funds have recently bought and sold shares of FRMI. BlackRock Inc. bought a new stake in shares of Fermi in the 2nd quarter worth $38,499,000. Ratan Capital Management LP bought a new position in shares of Fermi during the second quarter valued at $19,774,000. Balyasny Asset Management L.P. bought a new position in shares of Fermi during the fourth quarter valued at $16,549,000. Weiss Asset Management LP boosted its position in shares of Fermi by 431.6% during the first quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock valued at $14,104,000 after buying an additional 1,960,764 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Fermi in the 2nd quarter worth about $17,859,000.

Fermi Stock Down 2.9%

Fermi stock opened at $5.45 on Friday. The company has a market capitalization of $3.49 billion and a PE ratio of -4.62. The firm has a fifty day simple moving average of $6.93 and a two-hundred day simple moving average of $6.99. Fermi has a twelve month low of $4.47 and a twelve month high of $36.99.

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 analysts’ consensus estimates of ($0.06) by $0.02. During the same period in the prior year, the firm earned ($0.02) EPS. As a group, equities analysts expect that Fermi will post -0.33 earnings per share for the current fiscal 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.