Fermi’s (NASDAQ:FRMI – Get Free Report) quiet period will end on Monday, November 10th. Fermi had issued 32,500,000 shares in its IPO on October 1st. The total size of the offering was $682,500,000 based on an initial share price of $21.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Wall Street Analyst Weigh In
Several research firms have commented on FRMI. Berenberg Bank began coverage on shares of Fermi in a research report on Monday, October 27th. They set a “buy” rating and a $37.00 target price on the stock. UBS Group initiated coverage on Fermi in a report on Monday, October 27th. They set a “buy” rating and a $30.00 price target on the stock. Cantor Fitzgerald started coverage on Fermi in a research report on Monday, October 27th. They issued an “overweight” rating and a $27.00 price objective on the stock. Mizuho assumed coverage on Fermi in a research note on Monday, October 27th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, Zacks Research upgraded Fermi to a “hold” rating in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.56.
Check Out Our Latest Report on Fermi
Fermi Stock Performance
About Fermi
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.
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