Fermi Inc. (NASDAQ:FRMI) Receives Average Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

Shares of Fermi Inc. (NASDAQ:FRMI – Get Free Report) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $23.7778.

A number of research firms recently commented on FRMI. Cantor Fitzgerald began coverage on Fermi in a research note on Thursday, April 9th. They issued an “overweight” rating and a $8.00 target price on the stock. Wall Street Zen cut Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fermi in a research note on Monday, March 23rd. UBS Group cut Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a research note on Tuesday, May 5th. Finally, Evercore cut Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective on the stock. in a research note on Friday, May 15th.

Get Our Latest Report on FRMI

Fermi Stock Up 4.8%

FRMI opened at $7.48 on Tuesday. The stock has a market cap of $4.77 billion and a PE ratio of -6.56. Fermi has a 52 week low of $4.47 and a 52 week high of $36.99. The business’s fifty day simple moving average is $5.88 and its 200 day simple moving average is $8.26.

Fermi (NASDAQ:FRMI – Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). As a group, equities analysts anticipate that Fermi will post 0.4 earnings per share for the current year.

Insider Activity

In other news, CFO Miles E. Everson sold 427,004 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $4.58, for a total transaction of $1,955,678.32. Following the transaction, the chief financial officer directly owned 9,969,791 shares of the company’s stock, valued at approximately $45,661,642.78. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles Lynn Hamilton sold 398,140 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total value of $1,823,481.20. Following the transaction, the insider directly owned 5,525,910 shares in the company, valued at $25,308,667.80. This trade represents a 6.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 13,593,748 shares of company stock valued at $68,803,933.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Leonteq Securities AG bought a new position in shares of Fermi during the fourth quarter valued at about $30,000. PNC Financial Services Group Inc. bought a new position in shares of Fermi during the fourth quarter valued at about $36,000. Aspect Partners LLC bought a new position in shares of Fermi during the fourth quarter valued at about $38,000. SBI Securities Co. Ltd. bought a new position in shares of Fermi during the fourth quarter valued at about $41,000. Finally, NewEdge Advisors LLC bought a new position in shares of Fermi during the first quarter valued at about $54,000.

About Fermi

(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. 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.

Read More