Investors Purchase Large Volume of Fermi Call Options (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) was the target of some unusual options trading activity on Thursday. Stock investors acquired 44,426 call options on the company. This represents an increase of 97% compared to the average volume of 22,569 call options.

Insider Activity at Fermi

In other Fermi news, COO Blanes Jacobo Ortiz sold 427,363 shares of the business’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,957,322.54. Following the sale, the chief operating officer directly owned 5,469,092 shares in the company, valued at approximately $25,048,441.36. The trade was a 7.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Lynn Hamilton sold 398,140 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $4.58, for a total value of $1,823,481.20. Following the sale, the insider directly owned 5,525,910 shares in the company, valued at approximately $25,308,667.80. The trade was a 6.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,435,207 shares of company stock worth $67,803,539 in the last 90 days.

Hedge Funds Weigh In On Fermi

A number of institutional investors have recently made changes to their positions in FRMI. Hsbc Holdings PLC acquired a new stake in Fermi during the fourth quarter worth $1,056,000. Invesco Ltd. bought a new position in shares of Fermi during the fourth quarter valued at $8,284,000. Axxcess Wealth Management LLC bought a new stake in shares of Fermi in the 4th quarter worth about $604,000. XTX Topco Ltd acquired a new stake in shares of Fermi during the 4th quarter worth about $1,149,000. Finally, Quadrature Capital Ltd bought a new position in Fermi during the 4th quarter valued at about $1,079,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on FRMI. Citigroup began coverage on shares of Fermi in a research report on Monday, February 9th. They issued an “outperform” rating on the stock. Cantor Fitzgerald started coverage on shares of Fermi in a report on Thursday, April 9th. They issued 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 assumed coverage on shares of Fermi in a report on Monday, February 9th. They set a “market outperform” rating and a $30.00 price target on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Fermi in a research report on Monday, March 23rd. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fermi has an average rating of “Buy” and an average price target of $26.89.

Fermi Stock Down 1.8%

Fermi stock opened at $6.55 on Friday. Fermi has a 12 month low of $4.47 and a 12 month high of $36.99. The company’s fifty day simple moving average is $7.72 and its 200-day simple moving average is $13.18. The stock has a market cap of $4.13 billion and a P/E ratio of -7.80.

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.