Brokerages Set Fermi Inc. (NASDAQ:FRMI) PT at $20.67

Fermi Inc. (NASDAQ:FRMI) has been given an average rating of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.6667.

Several brokerages have recently issued reports on FRMI. 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. Mizuho reduced their target price on Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Finally, Weiss Ratings cut Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th.

Insider Buying and Selling at Fermi

In related news, Director James Perry sold 863,637 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 15,827,807 shares in the company, valued at approximately $115,701,269.17. The trade was a 5.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Fermi

Several large investors have recently made changes to their positions in FRMI. Leonteq Securities AG acquired a new position in Fermi in the 4th quarter worth $30,000. Integrated Wealth Concepts LLC acquired a new position in shares of Fermi during the second quarter worth about $41,000. NewEdge Advisors LLC bought a new position in shares of Fermi during the first quarter worth about $54,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Fermi in the first quarter worth $73,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Fermi during the 1st quarter worth about $91,000.

Fermi Price Performance

Shares of NASDAQ:FRMI opened at $5.00 on Thursday. The firm’s 50 day simple moving average is $5.88 and its 200 day simple moving average is $6.48. Fermi has a fifty-two week low of $4.47 and a fifty-two week high of $36.99. The company has a market capitalization of $3.20 billion and a price-to-earnings ratio of -4.24.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. During the same quarter last year, the firm posted ($0.02) EPS. Equities research analysts expect that Fermi will post -0.33 earnings per share for the current year.

Fermi Company Profile

Fermi Inc is an energy and digital infrastructure company developing large-scale power-generation and data-center facilities to support energy-intensive computing, including artificial intelligence applications. Its business focuses on integrating electricity generation, transmission infrastructure and data-center capacity within dedicated campuses.

The company’s primary development effort is the Fermi America project near Amarillo, Texas, also referred to as Project Matador. The planned campus is intended to use a diversified energy portfolio that may include natural gas, nuclear power, solar generation and battery storage, with the goal of providing reliable electricity for data centers and other high-demand technology users.

Fermi’s operations are currently centered on the United States, particularly Texas.