Fermi (NASDAQ:FRMI) Shares Down 4.6% – What’s Next?

Fermi Inc. (NASDAQ:FRMI) was down 4.6% during trading on Wednesday . The company traded as low as $14.30 and last traded at $14.53. Approximately 663,977 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 5,252,014 shares. The stock had previously closed at $15.23.

Wall Street Analysts Forecast Growth

FRMI has been the subject of a number of recent research reports. Evercore ISI set a $37.00 price objective on shares of Fermi and gave the company an “outperform” rating in a research note on Monday, October 27th. UBS Group began coverage on shares of Fermi in a research note on Monday, October 27th. They set a “buy” rating and a $30.00 price target for the company. Rothschild Redb upgraded Fermi to a “strong-buy” rating in a research note on Monday, October 27th. Redburn Partners set a $31.00 target price on Fermi in a research report on Monday, October 27th. Finally, Macquarie reiterated an “outperform” rating and issued a $35.00 price target on shares of Fermi in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $31.56.

Fermi Stock Performance

The firm has a 50 day moving average of $23.03.

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