Fermi (NASDAQ:FRMI) Sets New 1-Year Low – Here’s What Happened

Fermi Inc. (NASDAQ:FRMI) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.18 and last traded at $8.22, with a volume of 8640499 shares. The stock had previously closed at $9.06.

Trending Headlines about Fermi

Here are the key news stories impacting Fermi this week:

• Positive Sentiment: Evercore reaffirmed a Buy rating and a $20 price target on Fermi, signaling analyst conviction in upside against current levels; this provides a near-term catalyst for buyers. Evercore Sticks With Bullish Call on Fermi Inc. (FRMI)
• Neutral Sentiment: A physics story about a “flat Fermi surface” in altermagnets appeared in the press — this is a scientific/terminology item unrelated to Fermi Inc.’s business and is unlikely to affect the stock. Flat Fermi surface in altermagnets enables quantum limit spin currents
• Negative Sentiment: Fermi disclosed that a prospective anchor tenant for its Project Matador terminated an agreement that would have advanced $150M toward construction; the revelation coincided with a roughly 33% share drop and has triggered an investor class-action investigation by Hagens Berman — a material financing and execution setback for the company’s planned AI/data-center campus. Fermi Inc. (FRMI) Shares Tank 33% Amid First Tenant Contract Termination — Hagens Berman Investigating
• Negative Sentiment: Robbins Geller has opened a securities probe into whether Fermi and certain executives made misleading statements or withheld material information — increased litigation risk and potential discovery/repair costs for the company. FRMI INVESTIGATION ALERT: Investigation Launched into Fermi Inc.
• Negative Sentiment: Reports (citing insiders) say Amazon was the prospective tenant that withdrew funding from the Texas project; Fermi has publicly denied Amazon was the tenant. The conflicting reports increase uncertainty about deal counterparties, funding sources and management transparency — a damaging combination for investor confidence. Amazon is prospective tenant that withdrew funding from Fermi’s project, Insider reports

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FRMI. Zacks Research raised shares of Fermi to a “hold” rating in a research report on Tuesday, October 28th. Rothschild & Co Redburn initiated coverage on Fermi in a report on Monday, October 27th. They set a “buy” rating and a $31.00 target price for the company. UBS Group assumed coverage on Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $30.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fermi in a research report on Wednesday, November 12th. Finally, Mizuho initiated coverage on Fermi in a research report on Monday, October 27th. They set an “outperform” rating and a $27.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Fermi has a consensus rating of “Buy” and a consensus target price of $31.56.

Fermi Trading Up 2.7%

The firm has a 50 day moving average price of $19.62.

Fermi (NASDAQ:FRMI) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.84) EPS for the quarter.

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.