Fermi (NASDAQ:FRMI) Coverage Initiated by Analysts at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald started coverage on shares of Fermi (NASDAQ:FRMI) in a note issued to investors on Thursday. The firm set an “overweight” rating and a $8.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 75.63% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Citizens Jmp started coverage on shares of Fermi in a research note on Monday, February 9th. They set a “market outperform” rating and a $30.00 price objective for the company. Wall Street Zen lowered shares of Fermi from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Citigroup assumed coverage on shares of Fermi in a report on Monday, February 9th. They set an “outperform” rating for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Fermi in a research report on Monday, March 23rd. Finally, UBS Group lowered their price target on shares of Fermi from $30.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Fermi currently has an average rating of “Buy” and a consensus price target of $26.89.

Fermi Price Performance

Shares of Fermi stock traded down $0.25 on Thursday, reaching $4.56. 1,513,135 shares of the stock were exchanged, compared to its average volume of 8,479,086. The company has a 50 day simple moving average of $8.11. The company has a market capitalization of $2.87 billion and a price-to-earnings ratio of -5.41. Fermi has a twelve month low of $4.56 and a twelve month high of $36.99.

Insider Activity at Fermi

In other news, major shareholder Griffin Perry sold 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $5.54, for a total transaction of $11,080,000.00. Following the completion of the transaction, the insider directly owned 60,946,450 shares of the company’s stock, valued at $337,643,333. This represents a 3.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Fermi

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Leonteq Securities AG purchased a new stake in shares of Fermi during the fourth quarter worth about $30,000. ANTIPODES PARTNERS Ltd purchased a new position in Fermi in the 4th quarter valued at about $465,000. Empire Life Investments Inc. purchased a new position in Fermi in the 4th quarter valued at about $5,611,000. SBI Securities Co. Ltd. acquired a new stake in Fermi in the 4th quarter worth about $41,000. Finally, WJ Financial Advisors LLC purchased a new stake in Fermi during the 4th quarter worth approximately $167,000.

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.