Fermi Inc. (NASDAQ:FRMI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Fermi Inc. (NASDAQ:FRMI) has been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $22.4444.

FRMI has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fermi in a research report on Monday, March 23rd. Cantor Fitzgerald initiated coverage on Fermi in a research report on Thursday, April 9th. They set an “overweight” rating and a $8.00 price objective for the company. Stifel Nicolaus dropped their price objective on shares of Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Wall Street Zen lowered shares of Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, UBS Group lowered shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price for the company. in a research note on Tuesday, May 5th.

Fermi Price Performance

FRMI stock opened at $8.06 on Friday. The firm has a market cap of $5.14 billion and a PE ratio of -7.07. Fermi has a 12 month low of $4.47 and a 12 month high of $36.99. The firm has a 50 day simple moving average of $6.82 and a 200 day simple moving average of $7.68.

Fermi (NASDAQ:FRMI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.25). As a group, sell-side analysts expect that Fermi will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Fermi

In related news, insider Mesut Uzman sold 79,509 shares of Fermi stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total transaction of $501,701.79. Following the completion of the sale, the insider owned 670,491 shares of the company’s stock, valued at approximately $4,230,798.21. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Blanes Jacobo Ortiz sold 427,363 shares of the business’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 $1,957,322.54. Following the completion of the transaction, the chief operating officer owned 5,469,092 shares in the company, valued at $25,048,441.36. This trade represents a 7.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,457,385 shares of company stock valued at $18,857,119 in the last quarter.

Hedge Funds Weigh In On Fermi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. acquired a new stake in Fermi in the fourth quarter valued at approximately $16,549,000. Weiss Asset Management LP increased its stake in shares of Fermi by 431.6% during the 1st quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock worth $14,104,000 after purchasing an additional 1,960,764 shares during the last quarter. M&G PLC acquired a new position in shares of Fermi during the 4th quarter worth $14,443,000. Nuveen LLC bought a new position in shares of Fermi during the 4th quarter valued at $11,067,000. Finally, Millennium Management LLC bought a new position in shares of Fermi during the 4th quarter valued at $10,871,000.

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.