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

Shares of Fermi Inc. (NASDAQ:FRMI) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $23.7778.

A number of research analysts have issued reports on FRMI shares. UBS Group lowered shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a report on Tuesday, May 5th. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 target price on the stock. in a report on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Fermi in a report on Monday, March 23rd. Wall Street Zen lowered shares of Fermi from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Citigroup initiated coverage on shares of Fermi in a report on Monday, February 9th. They set an “outperform” rating on the stock.

Fermi Trading Down 1.4%

NASDAQ:FRMI opened at $5.70 on Tuesday. The firm has a market cap of $3.63 billion and a price-to-earnings ratio of -5.00. The company’s 50-day moving average is $5.76 and its two-hundred day moving average is $8.55. Fermi has a 12-month low of $4.47 and a 12-month high of $36.99.

Fermi (NASDAQ:FRMI) last released its earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). On average, equities research analysts forecast that Fermi will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Fermi

In other news, major shareholder Griffin Perry sold 9,000,000 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $5.02, for a total transaction of $45,180,000.00. Following the transaction, the insider directly owned 62,946,450 shares in the company, valued at $315,991,179. This represents a 12.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Blanes Jacobo Ortiz sold 427,363 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $4.58, for a total transaction of $1,957,322.54. Following the transaction, the chief operating officer owned 5,469,092 shares in the company, valued at approximately $25,048,441.36. The trade was a 7.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,593,748 shares of company stock worth $68,803,933.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. 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 position in shares of Fermi during the 4th quarter worth about $36,000. Aspect Partners LLC purchased a new position in shares of Fermi during the 4th quarter worth about $38,000. SBI Securities Co. Ltd. acquired a new stake in Fermi during the 4th quarter worth approximately $41,000. Finally, NewEdge Advisors LLC acquired a new stake in Fermi during the 1st quarter worth approximately $54,000.

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.