Fermi (NASDAQ:FRMI) Major Shareholder Griffin Perry Sells 9,000,000 Shares

Fermi Inc. (NASDAQ:FRMI) major shareholder Griffin Perry sold 9,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $5.02, for a total value of $45,180,000.00. Following the completion of the sale, the insider directly owned 62,946,450 shares of the company’s stock, valued at $315,991,179. The trade was a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Griffin Perry also recently made the following trade(s):

• On Tuesday, March 31st, Griffin Perry sold 2,000,000 shares of Fermi stock. The shares were sold at an average price of $5.54, for a total transaction of $11,080,000.00.

Fermi Stock Up 4.7%

Shares of NASDAQ:FRMI traded up $0.25 during trading hours on Thursday, hitting $5.62. 1,766,600 shares of the company’s stock traded hands, compared to its average volume of 8,197,180. The firm has a market cap of $3.54 billion and a price-to-earnings ratio of -6.65. The firm has a fifty day simple moving average of $8.55. Fermi Inc. has a 1 year low of $4.63 and a 1 year high of $36.99.

Institutional Investors Weigh In On Fermi

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. purchased a new stake in Fermi in the 4th quarter valued at $16,549,000. M&G PLC acquired a new stake in Fermi in the 4th quarter valued at approximately $14,443,000. Nuveen LLC purchased a new stake in shares of Fermi in the 4th quarter valued at $11,067,000. Millennium Management LLC acquired a new stake in shares of Fermi during the fourth quarter worth about $10,871,000. Finally, Nexpoint Asset Management L.P. acquired a new stake in shares of Fermi in the fourth quarter valued at $10,412,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Fermi in a research report on Monday, March 23rd. Texas Capital upgraded Fermi to a “strong-buy” rating in a research note on Tuesday, January 20th. Citizens Jmp began coverage on shares of Fermi in a report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 target price for the company. Citigroup started coverage on shares of Fermi in a research report on Monday, February 9th. They set an “outperform” rating for the company. Finally, Wall Street Zen downgraded Fermi from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $29.00.

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.