James Richard Perry Sells 863,637 Shares of Fermi (NASDAQ:FRMI) Stock

Fermi Inc. (NASDAQ:FRMI) Director James Richard Perry sold 863,637 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total value of $6,313,186.47. Following the completion of the sale, the director directly owned 15,827,807 shares of the company’s stock, valued at $115,701,269.17. The trade was a 5.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fermi Price Performance

Shares of FRMI stock opened at $8.06 on Friday. The stock’s fifty day moving average price is $6.82 and its 200 day moving average price is $7.68. Fermi Inc. has a 1-year low of $4.47 and a 1-year high of $36.99. The company has a market cap of $5.14 billion and a price-to-earnings ratio of -7.07.

Fermi (NASDAQ:FRMI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). As a group, equities research analysts anticipate that Fermi Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on FRMI shares. Cantor Fitzgerald began coverage on shares of Fermi in a research report on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Fermi in a research report on Monday, March 23rd. UBS Group lowered shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price target on the stock. in a research note on Tuesday, May 5th. Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Stifel Nicolaus decreased their price target on shares of Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.44.

Institutional Trading of Fermi

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC purchased a new position in Fermi during the first quarter valued at approximately $54,000. Concorde Asset Management LLC boosted its position in Fermi by 154.9% in the 1st quarter. Concorde Asset Management LLC now owns 38,610 shares of the company’s stock worth $225,000 after purchasing an additional 23,460 shares in the last quarter. Royal Bank of Canada boosted its position in Fermi by 95.7% in the 1st quarter. Royal Bank of Canada now owns 53,866 shares of the company’s stock worth $315,000 after purchasing an additional 26,341 shares in the last quarter. Engle Capital Management L.P. purchased a new stake in Fermi in the 1st quarter worth approximately $5,928,000. Finally, Evercore Wealth Management LLC grew its stake in shares of Fermi by 166.7% during the 1st quarter. Evercore Wealth Management LLC now owns 40,000 shares of the company’s stock worth $234,000 after purchasing an additional 25,000 shares during the period.

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.