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

by · The Cerbat Gem

Shares of Fermi Inc. (NASDAQ:FRMI – Get Free Report) reached a new 52-week low on Friday . The company traded as low as $8.30 and last traded at $9.25, with a volume of 27590996 shares changing hands. The stock had previously closed at $15.25.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FRMI shares. Rothschild Redb upgraded Fermi to a “strong-buy” rating in a report on Monday, October 27th. Evercore ISI set a $37.00 price objective on shares of Fermi and gave the stock an “outperform” rating in a report on Monday, October 27th. Redburn Partners set a $31.00 target price on shares of Fermi in a research note on Monday, October 27th. Mizuho assumed coverage on shares of Fermi in a research report on Monday, October 27th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Fermi in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $31.56.

Check Out Our Latest Stock Report on Fermi

Fermi Stock Down 31.8%

The stock’s fifty day simple moving average is $21.85.

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

Fermi Company Profile

(Get Free Report)

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.

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