Fermi Inc.’s Lock-Up Period Will End on March 30th (NASDAQ:FRMI)

Fermi’s (NASDAQ:FRMI) lock-up period will end on Monday, March 30th. Fermi had issued 32,500,000 shares in its initial public offering on October 1st. The total size of the offering was $682,500,000 based on an initial share price of $21.00. After the expiration of Fermi’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Several research firms have commented on FRMI. Citizens Jmp assumed coverage on shares of Fermi in a research report on Monday, February 9th. They set a “market outperform” rating and a $30.00 price objective for the company. Weiss Ratings began coverage on shares of Fermi in a report on Wednesday, December 24th. They issued a “sell (e+)” rating on the stock. Texas Capital upgraded shares of Fermi to a “strong-buy” rating in a research report on Tuesday, January 20th. Citigroup began coverage on Fermi in a research report on Monday, February 9th. They issued an “outperform” rating for the company. Finally, Wall Street Zen raised Fermi from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $31.44.

Fermi Stock Performance

Shares of FRMI opened at $7.20 on Monday. The stock has a fifty day moving average of $9.12. The company has a market capitalization of $4.42 billion and a P/E ratio of -8.57. Fermi has a 52-week low of $7.17 and a 52-week high of $36.99.

Hedge Funds Weigh In On Fermi

Hedge funds have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new stake in Fermi in the 4th quarter worth about $151,000. Nisa Investment Advisors LLC bought a new position in shares of Fermi during the fourth quarter valued at approximately $423,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Fermi in the fourth quarter worth approximately $84,000. Choreo LLC purchased a new stake in shares of Fermi in the fourth quarter worth approximately $98,000. Finally, Aspect Partners LLC bought a new stake in shares of Fermi during the 4th quarter worth approximately $38,000.

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. 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.