Fermi (NASDAQ:FRMI) Hits New 1-Year Low – Here’s Why

Fermi Inc. (NASDAQ:FRMI)’s stock price reached a new 52-week low on Thursday . The company traded as low as $4.63 and last traded at $4.5640, with a volume of 718855 shares changing hands. The stock had previously closed at $4.80.

Analysts Set New Price Targets

A number of research firms have weighed in on FRMI. UBS Group decreased their target price on shares of Fermi from $30.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Cantor Fitzgerald began coverage on shares of Fermi in a research report on Thursday. They set an “overweight” rating and a $8.00 target price for the company. Texas Capital raised shares of Fermi to a “strong-buy” rating in a research report on Tuesday, January 20th. Citizens Jmp began coverage on shares of Fermi in a research report on Monday, February 9th. They set a “market outperform” rating and a $30.00 target price for the company. Finally, Wall Street Zen downgraded shares of Fermi from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.89.

Fermi Trading Down 4.7%

The company has a market capitalization of $2.88 billion and a P/E ratio of -5.43. The firm has a 50-day moving average of $8.11.

Insider Activity at Fermi

In other news, major shareholder Griffin Perry sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $5.54, for a total transaction of $11,080,000.00. Following the completion of the sale, the insider owned 60,946,450 shares of the company’s stock, valued at $337,643,333. This trade 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 Trading of Fermi

Several large investors have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new stake in Fermi in the 4th quarter valued at $151,000. Nisa Investment Advisors LLC acquired a new stake in Fermi in the 4th quarter valued at $423,000. Prime Capital Investment Advisors LLC acquired a new stake in Fermi in the 4th quarter valued at $84,000. Choreo LLC acquired a new stake in Fermi in the 4th quarter valued at $98,000. Finally, Aspect Partners LLC acquired a new stake in Fermi in the 4th quarter valued at $38,000.

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.