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

Fermi Inc. (NASDAQ:FRMI) has received a consensus recommendation of “Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $31.4444.

Several analysts have issued reports on FRMI shares. Citigroup initiated coverage on shares of Fermi in a research note on Monday, February 9th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fermi in a research note on Monday. Wall Street Zen upgraded Fermi from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Texas Capital upgraded Fermi to a “strong-buy” rating in a report on Tuesday, January 20th. Finally, Citizens Jmp began coverage on Fermi in a research report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 price objective on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG purchased a new stake in shares of Fermi during the 4th quarter worth $30,000. PNC Financial Services Group Inc. purchased a new position in Fermi in the fourth quarter valued at about $36,000. Aspect Partners LLC bought a new position in Fermi in the fourth quarter worth about $38,000. SBI Securities Co. Ltd. bought a new position in Fermi in the fourth quarter worth about $41,000. Finally, MML Investors Services LLC purchased a new stake in shares of Fermi during the fourth quarter valued at about $81,000.

Fermi Stock Down 10.7%

Shares of NASDAQ FRMI opened at $6.66 on Thursday. Fermi has a 1-year low of $6.64 and a 1-year high of $36.99. The stock’s 50 day moving average is $8.94. The company has a market capitalization of $4.09 billion and a PE ratio of -7.93.

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. 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.