Fermi Inc. (NASDAQ:FRMI) Stock Rated “Moderate Buy” by Wall Street Analysts

Fermi Inc. (NASDAQ:FRMI) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $16.86.

A number of research analysts have weighed in on FRMI shares. Weiss Ratings lowered 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 report 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 for the company in a research report on Friday, October 16th.

Fermi Stock Down 7.2%

Shares of Fermi stock opened at $1.54 on Friday. Fermi has a twelve month low of $1.44 and a twelve month high of $23.75. The firm’s 50-day moving average price is $3.74 and its 200 day moving average price is $6.24.

Fermi (NASDAQ:FRMI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same period in the previous year, the business earned ($0.02) EPS. As a group, analysts anticipate that Fermi will post -0.33 earnings per share for the current year.

Insider Activity

In other news, major shareholder Toby Neugebauer sold 5,000,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $1.52, for a total value of $7,600,000.00. Following the completion of the sale, the insider directly owned 84,813,010 shares in the company, valued at $128,915,775.20. This represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 12,125,749 shares of company stock valued at $28,639,969 in the last ninety days. 2.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fermi

Hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Fermi during the 2nd quarter worth approximately $38,499,000. Value Aligned Research Advisors LLC acquired a new position in Fermi in the second quarter valued at approximately $12,531,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in Fermi in the second quarter valued at approximately $3,893,000. Alyeska Investment Group L.P. lifted its holdings in Fermi by 82.4% in the second quarter. Alyeska Investment Group L.P. now owns 2,886,836 shares of the company’s stock valued at $26,443,000 after acquiring an additional 1,303,979 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Fermi in the second quarter worth approximately $1,845,000.

About Fermi

Fermi Inc. develops energy and data-center infrastructure intended to support artificial intelligence and other high-performance computing needs. Its business centers on planning and building integrated campuses that pair large-scale power resources with data-center facilities. The company’s flagship development is Project Matador, a planned campus in the Texas Panhandle near Amarillo. The project is designed to combine data centers with a mix of power-generation and energy-storage resources; it remains a development project rather than an established portfolio of operating facilities.