Fermi (NASDAQ:FRMI) Hits New 52-Week Low – What’s Next?

Fermi Inc. (NASDAQ:FRMI)’s stock price reached a new 52-week low during trading on Monday. The company traded as low as $2.41 and last traded at $2.4290, with a volume of 3,034,306 shares trading hands. The stock had previously closed at $2.61.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FRMI shares. Weiss Ratings downgraded Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Mizuho dropped their target price on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Finally, Cantor Fitzgerald reduced their target price on shares of Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.86.

Fermi Price Performance

The firm has a 50 day moving average price of $4.26 and a 200-day moving average price of $6.51. The firm has a market cap of $1.46 billion and a price-to-earnings ratio of -1.94.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same period in the prior year, the firm earned ($0.02) EPS. On average, sell-side analysts expect that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Insider Activity at Fermi

In related news, major shareholder Toby Neugebauer sold 420,749 shares of Fermi stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $3.04, for a total transaction of $1,279,076.96. Following the transaction, the insider owned 91,188,910 shares of the company’s stock, valued at $277,214,286.40. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 4,467,949 shares of company stock valued at $15,622,757. Corporate insiders own 2.83% of the company’s stock.

Institutional Trading of Fermi

Hedge funds have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC bought a new stake in Fermi in the 3rd quarter valued at $64,000. Covestor Ltd lifted its holdings in shares of Fermi by 16.2% in the third quarter. Covestor Ltd now owns 243,577 shares of the company’s stock valued at $1,025,000 after purchasing an additional 34,005 shares in the last quarter. Mraz Amerine & Associates Inc. bought a new position in shares of Fermi during the third quarter worth about $108,000. Sumitomo Mitsui Trust Group Inc. raised its position in Fermi by 721.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 276,563 shares of the company’s stock valued at $1,164,000 after buying an additional 242,912 shares during the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Fermi during the 3rd quarter worth approximately $77,000.

Fermi Company Profile

Fermi, Inc (NASDAQ: FRMI) is an energy and infrastructure company focused on developing large-scale power and data center facilities for artificial intelligence and other high-performance computing applications. Its business model centers on integrating electricity generation, energy storage and data center infrastructure within a single campus.

The company’s principal development is Project Matador, a planned energy and data center campus in the Texas Panhandle. The project is designed to use a mix of power sources, including nuclear energy, natural gas, solar generation and battery storage, with the goal of providing reliable electricity for data center customers.

Fermi’s activities are currently concentrated in the United States, particularly Texas.