Fermi (NASDAQ:FRMI) Sets New 12-Month Low – Here’s Why

Fermi Inc. (NASDAQ:FRMI) reached a new 52-week low during trading on Thursday . The company traded as low as $15.91 and last traded at $16.08, with a volume of 2147375 shares trading hands. The stock had previously closed at $16.91.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Fermi in a research note on Monday, October 27th. They set a “buy” rating and a $29.00 target price for the company. Evercore ISI set a $37.00 target price on Fermi and gave the company an “outperform” rating in a research note on Monday, October 27th. Mizuho assumed coverage on Fermi in a research note on Monday, October 27th. They set an “outperform” rating and a $27.00 price target for the company. Berenberg Bank assumed coverage on shares of Fermi in a research report on Monday, October 27th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Macquarie restated an “outperform” rating and set a $35.00 price objective on shares of Fermi in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.56.

Fermi Trading Down 8.0%

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

About Fermi

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.