Stock Traders Buy High Volume of Fermi Call Options (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) was the target of some unusual options trading on Friday. Traders acquired 18,912 call options on the stock. This is an increase of 201% compared to the average daily volume of 6,285 call options.

Fermi Price Performance

Shares of NASDAQ:FRMI opened at $10.09 on Friday. Fermi has a 52 week low of $8.30 and a 52 week high of $36.99. The firm has a 50-day moving average price of $21.48.

Fermi (NASDAQ:FRMI) last released its earnings results on Monday, November 10th. The company reported ($0.84) earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

FRMI has been the topic of several research analyst reports. Mizuho assumed coverage on Fermi in a research report on Monday, October 27th. They set an “outperform” rating and a $27.00 price target on the stock. Redburn Partners set a $31.00 target price on shares of Fermi in a research report on Monday, October 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fermi in a research report on Wednesday, November 12th. Zacks Research upgraded shares of Fermi to a “hold” rating in a research note on Tuesday, October 28th. Finally, UBS Group began coverage on shares of Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $30.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $31.56.

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.