Fermi (NASDAQ:FRMI) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Fermi (NASDAQ:FRMI) from a sell rating to a hold rating in a research note published on Saturday.

Several other analysts have also commented on the stock. Cantor Fitzgerald assumed coverage on shares of Fermi in a report on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price objective for the company. Citizens Jmp assumed coverage on shares of Fermi in a report on Monday, February 9th. They set a “market outperform” rating and a $30.00 target price for the company. UBS Group lowered their target price on shares of Fermi from $30.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Texas Capital upgraded shares of Fermi to a “strong-buy” rating in a report on Tuesday, January 20th. Finally, Citigroup assumed coverage on shares of Fermi in a report on Monday, February 9th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $26.89.

Fermi Price Performance

Shares of FRMI opened at $5.17 on Friday. Fermi has a one year low of $4.47 and a one year high of $36.99. The company has a 50-day simple moving average of $6.97 and a two-hundred day simple moving average of $11.86. The firm has a market capitalization of $3.26 billion and a PE ratio of -6.15.

Insider Buying and Selling at Fermi

In other news, insider Charles Lynn Hamilton sold 398,140 shares of Fermi stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,823,481.20. Following the completion of the transaction, the insider directly owned 5,525,910 shares in the company, valued at approximately $25,308,667.80. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Miles E. Everson sold 427,004 shares of Fermi stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,955,678.32. Following the transaction, the chief financial officer owned 9,969,791 shares of the company’s stock, valued at $45,661,642.78. The trade was a 4.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,435,207 shares of company stock valued at $67,803,539 over the last ninety days.

Institutional Investors Weigh In On Fermi

Several institutional investors and hedge funds have recently made changes to their positions in FRMI. Leonteq Securities AG bought a new stake in shares of Fermi during the fourth quarter valued at approximately $30,000. PNC Financial Services Group Inc. bought a new stake in shares of Fermi during the fourth quarter valued at approximately $36,000. Aspect Partners LLC bought a new stake in shares of Fermi during the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. bought a new stake in shares of Fermi during the fourth quarter valued at approximately $41,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Fermi during the first quarter valued at approximately $73,000.

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.