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

Fermi Inc. (NASDAQ:FRMI) shares reached a new 52-week low during trading on Thursday . The company traded as low as $6.64 and last traded at $6.66, with a volume of 10468341 shares changing hands. The stock had previously closed at $7.46.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FRMI shares. Citizens Jmp started coverage on shares of Fermi in a research note on Monday, February 9th. They issued a “market outperform” rating and a $30.00 target price for the company. Wall Street Zen raised shares of Fermi from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Texas Capital upgraded shares of Fermi to a “strong-buy” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fermi in a research report on Monday. Finally, Citigroup assumed coverage on shares of Fermi in a research report on Monday, February 9th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Fermi has an average rating of “Buy” and an average price target of $31.44.

Fermi Stock Down 10.7%

The firm has a market cap of $4.09 billion and a PE ratio of -7.93. The business’s 50 day simple moving average is $8.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FRMI. Leonteq Securities AG purchased a new position in shares of Fermi during the 4th quarter worth about $30,000. PNC Financial Services Group Inc. purchased a new stake in Fermi in the fourth quarter valued at approximately $36,000. Aspect Partners LLC acquired a new position in Fermi during the fourth quarter worth approximately $38,000. SBI Securities Co. Ltd. purchased a new position in Fermi during the fourth quarter worth approximately $41,000. Finally, MML Investors Services LLC purchased a new position in Fermi during the fourth quarter worth approximately $81,000.

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.