Fermi (NASDAQ:FRMI) Sets New 12-Month Low – Here’s What Happened

Fermi Inc. (NASDAQ:FRMI) reached a new 52-week low on Friday . The stock traded as low as $7.17 and last traded at $7.20, with a volume of 8174419 shares. The stock had previously closed at $7.87.

Analyst Ratings Changes

A number of research firms have recently commented on FRMI. Texas Capital raised Fermi to a “strong-buy” rating in a report on Tuesday, January 20th. Citizens Jmp began coverage on Fermi in a research note on Monday, February 9th. They set a “market outperform” rating and a $30.00 target price for the company. Citigroup initiated coverage on shares of Fermi in a report on Monday, February 9th. They issued an “outperform” rating for the company. Wall Street Zen upgraded shares of Fermi from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Weiss Ratings assumed coverage on shares of Fermi in a research report on Wednesday, December 24th. They set a “sell (e+)” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $31.44.

Fermi Stock Performance

The stock has a market capitalization of $4.43 billion and a P/E ratio of -8.60. The firm’s fifty day simple moving average is $9.16.

Institutional Trading of Fermi

Hedge funds and other institutional investors have recently made changes to their positions in the company. Balyasny Asset Management L.P. bought a new position in Fermi in the 4th quarter valued at approximately $16,549,000. M&G PLC bought a new stake in Fermi during the 4th quarter worth approximately $14,443,000. Nuveen LLC acquired a new position in Fermi in the 4th quarter valued at approximately $11,067,000. Millennium Management LLC acquired a new position in Fermi in the 4th quarter valued at approximately $10,871,000. Finally, Nexpoint Asset Management L.P. bought a new position in shares of Fermi during the fourth quarter valued at $10,412,000.

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.