Fermi Inc. (NASDAQ:FRMI) Stock Has Average Price Target of $16.86

Shares of Fermi Inc. (NASDAQ:FRMI) have received a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $16.86.

FRMI has been the topic of a number of recent analyst reports. Mizuho lowered their price target 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 lowered shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Finally, Cantor Fitzgerald decreased their target price on shares of Fermi from $12.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, October 16th.

Fermi Price Performance

Shares of NASDAQ FRMI opened at $1.57 on Friday. Fermi has a 1 year low of $1.44 and a 1 year high of $25.70. The firm has a 50-day simple moving average of $3.88 and a two-hundred day simple moving average of $6.31. The company has a market cap of $1.01 billion and a P/E 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, topping the consensus estimate of ($0.06) by $0.02. During the same period in the prior year, the firm posted ($0.02) earnings per share. As a group, equities research analysts expect that Fermi will post -0.33 EPS for the current year.

Key Fermi News

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

Insiders Place Their Bets

In related news, major shareholder Toby Neugebauer sold 5,000,000 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $1.52, for a total value of $7,600,000.00. Following the transaction, the insider directly owned 84,813,010 shares of the company’s stock, valued at $128,915,775.20. This represents a 5.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 12,125,749 shares of company stock worth $28,639,969. 2.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fermi

Several hedge funds have recently added to or reduced their stakes in FRMI. BlackRock Inc. purchased a new stake in Fermi in the 2nd quarter worth $38,499,000. BlueCrest Capital Management Ltd purchased a new position in Fermi during the second quarter valued at $33,276,000. Ratan Capital Management LP purchased a new position in Fermi during the second quarter valued at $19,774,000. Weiss Asset Management LP grew its position in shares of Fermi by 431.6% in the first quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock valued at $14,104,000 after purchasing an additional 1,960,764 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Fermi in the second quarter valued at about $17,859,000.

Fermi Company Profile

Fermi Inc develops energy and data-center infrastructure intended to support artificial intelligence and other high-performance computing needs. Its business centers on planning and building integrated campuses that pair large-scale power resources with data-center facilities.

The company’s flagship development is Project Matador, a planned campus in the Texas Panhandle near Amarillo. The project is designed to combine data centers with a mix of power-generation and energy-storage resources; it remains a development project rather than an established portfolio of operating facilities.

Fermi was co-founded by Toby Neugebauer and former Texas governor and U.S.