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

Shares of Fermi Inc. (NASDAQ:FRMI) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $23.7778.

FRMI has been the topic of several analyst reports. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price target on the stock. in a research note on Friday, May 15th. Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Cantor Fitzgerald began coverage on shares of Fermi in a research note on Thursday, April 9th. They set an “overweight” rating and a $8.00 price objective on the stock. UBS Group cut shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price objective on the stock. in a research note on Tuesday, May 5th. Finally, Citigroup began coverage on shares of Fermi in a research note on Monday, February 9th. They set an “outperform” rating on the stock.

Insider Buying and Selling at Fermi

In related news, CFO Miles E. Everson sold 427,004 shares of Fermi stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,955,678.32. Following the sale, the chief financial officer directly owned 9,969,791 shares in the company, valued at $45,661,642.78. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mesut Uzman sold 79,509 shares of Fermi stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $6.31, for a total transaction of $501,701.79. Following the sale, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. This represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,593,748 shares of company stock valued at $68,803,933.

Institutional Investors Weigh In On Fermi

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new stake in Fermi in the first quarter worth about $54,000. Concorde Asset Management LLC raised its position in Fermi by 154.9% in the first quarter. Concorde Asset Management LLC now owns 38,610 shares of the company’s stock worth $225,000 after acquiring an additional 23,460 shares in the last quarter. Royal Bank of Canada raised its position in Fermi by 95.7% in the first quarter. Royal Bank of Canada now owns 53,866 shares of the company’s stock worth $315,000 after acquiring an additional 26,341 shares in the last quarter. Engle Capital Management L.P. bought a new stake in Fermi in the first quarter worth about $5,928,000. Finally, Evercore Wealth Management LLC raised its position in Fermi by 166.7% in the first quarter. Evercore Wealth Management LLC now owns 40,000 shares of the company’s stock worth $234,000 after acquiring an additional 25,000 shares in the last quarter.

Fermi Trading Down 1.4%

Shares of NASDAQ:FRMI opened at $5.70 on Tuesday. The firm’s 50 day moving average is $5.76 and its two-hundred day moving average is $8.55. Fermi has a 52 week low of $4.47 and a 52 week high of $36.99. The firm has a market capitalization of $3.63 billion and a P/E ratio of -5.00.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.25). Analysts predict that Fermi will post 0.4 EPS for the current year.

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.