Fermi Sees Unusually High Options Volume (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) was the recipient of some unusual options trading activity on Monday. Investors bought 20,926 call options on the stock. This represents an increase of approximately 272% compared to the average daily volume of 5,632 call options.

Fermi Stock Up 2.6%

Shares of FRMI traded up $0.37 during trading hours on Monday, reaching $14.71. 3,635,432 shares of the company traded hands, compared to its average volume of 5,551,108. Fermi has a fifty-two week low of $12.88 and a fifty-two week high of $36.99.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FRMI shares. Rothschild Redb upgraded shares of Fermi to a “strong-buy” rating in a research report on Monday, October 27th. Cantor Fitzgerald restated an “overweight” rating on shares of Fermi in a report on Wednesday, November 12th. Evercore ISI set a $37.00 price objective on Fermi and gave the company an “outperform” rating in a research note on Monday, October 27th. Berenberg Bank assumed coverage on Fermi in a report on Monday, October 27th. They set a “buy” rating and a $37.00 price objective for the company. Finally, UBS Group began coverage on Fermi in a report on Monday, October 27th. They issued a “buy” rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $31.56.

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.