Griffin Perry Sells 2,000,000 Shares of Fermi (NASDAQ:FRMI) Stock

Fermi Inc. (NASDAQ:FRMI) major shareholder Griffin Perry sold 2,000,000 shares of the stock in a transaction dated 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 transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% 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 Monday, March 30th, Griffin Perry sold 9,000,000 shares of Fermi stock. The shares were sold at an average price of $5.02, for a total value of $45,180,000.00.

Fermi Stock Up 4.7%

FRMI stock traded up $0.25 during mid-day trading on Thursday, reaching $5.62. 1,766,600 shares of the company traded hands, compared to its average volume of 8,197,180. The company has a fifty day moving average price of $8.55. Fermi Inc. has a 52-week low of $4.63 and a 52-week high of $36.99. The stock has a market capitalization of $3.54 billion and a P/E ratio of -6.69.

Institutional Investors Weigh In On Fermi

A number of institutional investors have recently made changes to their positions in the business. ORG Wealth Partners LLC bought a new position in shares of Fermi during the fourth quarter valued at about $151,000. Nisa Investment Advisors LLC bought a new stake in shares of Fermi in the 4th quarter worth approximately $423,000. Prime Capital Investment Advisors LLC bought a new stake in Fermi in the fourth quarter valued at $84,000. Choreo LLC purchased a new position in shares of Fermi during the fourth quarter valued at about $98,000. Finally, Aspect Partners LLC bought a new position in shares of Fermi in the 4th quarter worth approximately $38,000.

Analyst Ratings Changes

Several analysts have issued reports on FRMI shares. Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Citizens Jmp assumed 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. Citigroup started coverage on Fermi in a research report on Monday, February 9th. They issued an “outperform” rating on the stock. Texas Capital upgraded Fermi to a “strong-buy” rating in a research note on Tuesday, January 20th. Finally, UBS Group dropped their price target on Fermi from $30.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.