Fermi (NASDAQ:FRMI) Major Shareholder Sells $45,180,000.00 in Stock

Fermi Inc. (NASDAQ:FRMI) major shareholder Griffin Perry sold 9,000,000 shares of Fermi stock in a transaction on 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 completion of the transaction, the insider directly owned 62,946,450 shares in the company, valued at $315,991,179. The trade was a 12.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Griffin Perry also recently made the following trade(s):

• On Tuesday, March 31st, Griffin Perry sold 2,000,000 shares of Fermi stock. The shares were sold at an average price of $5.54, for a total value of $11,080,000.00.

Fermi Price Performance

NASDAQ:FRMI traded up $0.25 during trading hours on Thursday, hitting $5.62. The company’s stock had a trading volume of 1,766,600 shares, compared to its average volume of 8,197,180. Fermi Inc. has a 52-week low of $4.63 and a 52-week high of $36.99. The firm has a market capitalization of $3.54 billion and a P/E ratio of -6.65. The company has a 50-day moving average price of $8.55.

Institutional Trading of Fermi

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

Analyst Ratings Changes

A number of brokerages have recently commented on FRMI. Wall Street Zen downgraded shares of Fermi from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Citizens Jmp began coverage on shares of Fermi in a report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fermi in a research note on Monday, March 23rd. Citigroup assumed coverage on Fermi in a research report on Monday, February 9th. They issued an “outperform” rating on the stock. Finally, UBS Group lowered their price target on Fermi from $30.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday. 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, Fermi currently has a consensus rating of “Buy” and an average price target of $29.00.

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.