Fermi (NASDAQ:FRMI) Hits New 1-Year Low – Time to Sell?

Fermi Inc. (NASDAQ:FRMI) shares hit a new 52-week low during trading on Monday. The stock traded as low as $2.47 and last traded at $2.4650, with a volume of 1,533,292 shares traded. The stock had previously closed at $2.55.

Analyst Ratings Changes

A number of research analysts have recently commented on FRMI shares. Mizuho cut their price target on Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Weiss Ratings lowered shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Finally, Cantor Fitzgerald lowered their price target on Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.67.

Fermi Stock Performance

The business’s 50-day simple moving average is $4.57 and its 200-day simple moving average is $5.86. The company has a market capitalization of $1.64 billion and a price-to-earnings ratio of -2.16.

Fermi (NASDAQ:FRMI) last released 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 quarter in the prior year, the business posted ($0.02) EPS. On average, analysts forecast that Fermi Inc. will post -0.33 earnings per share for the current year.

Insider Activity at Fermi

In related news, major shareholder Toby Neugebauer sold 420,749 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $3.04, for a total value of $1,279,076.96. Following the sale, the insider directly owned 91,188,910 shares of the company’s stock, valued at approximately $277,214,286.40. The trade was a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,467,949 shares of company stock worth $15,622,757 in the last quarter. Company insiders own 2.83% of the company’s stock.

Institutional Investors Weigh In On Fermi

A number of hedge funds and other institutional investors have recently bought and sold shares of FRMI. BlackRock Inc. acquired a new position in Fermi during the 2nd quarter worth approximately $38,499,000. BlueCrest Capital Management Ltd bought a new stake in shares of Fermi in the 2nd quarter valued at about $33,276,000. Ratan Capital Management LP bought a new stake in Fermi in the second quarter valued at approximately $19,774,000. Weiss Asset Management LP boosted its stake in shares of Fermi by 431.6% during the 1st quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock worth $14,104,000 after acquiring an additional 1,960,764 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Fermi during the 2nd quarter valued at $17,859,000.

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.