UBS Group Lowers Fermi (NASDAQ:FRMI) Price Target to $8.00
by Danessa Lincoln · The Markets DailyFermi (NASDAQ:FRMI – Get Free Report) had its target price reduced by UBS Group from $30.00 to $8.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 48.29% from the stock’s previous close.
FRMI has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fermi in a research report on Monday, March 23rd. Wall Street Zen downgraded Fermi from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup assumed coverage on Fermi in a report on Monday, February 9th. They issued an “outperform” rating for the company. Citizens Jmp assumed coverage on Fermi in a research report on Monday, February 9th. They set a “market outperform” rating and a $30.00 target price for the company. Finally, Texas Capital raised Fermi to a “strong-buy” rating in a report on Tuesday, January 20th. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $29.00.
Read Our Latest Report on FRMI
Fermi Price Performance
Shares of NASDAQ FRMI traded down $0.45 during mid-day trading on Wednesday, reaching $5.40. 5,511,661 shares of the company were exchanged, compared to its average volume of 8,208,550. The firm’s 50-day moving average is $8.63. The company has a market capitalization of $3.31 billion and a PE ratio of -6.42. Fermi has a twelve month low of $4.63 and a twelve month high of $36.99.
Hedge Funds Weigh In On Fermi
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. acquired a new stake in shares of Fermi in the fourth quarter valued at about $16,549,000. M&G PLC acquired a new position in shares of Fermi in the fourth quarter worth approximately $14,443,000. Nuveen LLC bought a new stake in Fermi in the fourth quarter valued at approximately $11,067,000. Millennium Management LLC bought a new stake in Fermi in the fourth quarter valued at approximately $10,871,000. Finally, Nexpoint Asset Management L.P. acquired a new stake in Fermi during the 4th quarter valued at approximately $10,412,000.
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.