Fermi Inc. (NASDAQ:FRMI) Receives Average Rating of “Buy” from Analysts

Shares of Fermi Inc. (NASDAQ:FRMI) have earned an average recommendation of “Buy” from the thirteen research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $26.8889.

FRMI has been the topic of several recent analyst reports. Citizens Jmp initiated coverage on Fermi in a report on Monday, February 9th. They set a “market outperform” rating and a $30.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Fermi in a report on Thursday, April 9th. They set an “overweight” rating and a $8.00 price objective on the stock. Wall Street Zen downgraded Fermi from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Citigroup initiated coverage on Fermi in a report on Monday, February 9th. They set an “outperform” rating on the stock. Finally, UBS Group cut their price objective on Fermi from $30.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st.

Fermi Stock Performance

NASDAQ FRMI opened at $6.55 on Monday. The stock’s 50-day moving average price is $7.72 and its two-hundred day moving average price is $13.18. The company has a market cap of $4.13 billion and a PE ratio of -7.80. Fermi has a 1 year low of $4.47 and a 1 year high of $36.99.

Insiders Place Their Bets

In other Fermi news, COO Blanes Jacobo Ortiz sold 427,363 shares of Fermi stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $4.58, for a total transaction of $1,957,322.54. Following the transaction, the chief operating officer owned 5,469,092 shares of the company’s stock, valued at $25,048,441.36. The trade was a 7.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Griffin Perry sold 9,000,000 shares of Fermi stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $5.02, for a total value of $45,180,000.00. Following the transaction, the insider directly owned 62,946,450 shares in the company, valued at approximately $315,991,179. This trade represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,435,207 shares of company stock worth $67,803,539.

Hedge Funds Weigh In On Fermi

Institutional investors and hedge funds have recently bought and sold shares of the business. Leonteq Securities AG purchased a new position in Fermi during the 4th quarter valued at about $30,000. PNC Financial Services Group Inc. purchased a new position in Fermi during the 4th quarter valued at about $36,000. Aspect Partners LLC purchased a new position in Fermi during the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. purchased a new position in Fermi during the 4th quarter valued at about $41,000. Finally, MML Investors Services LLC purchased a new position in Fermi during the 4th quarter valued at about $81,000.

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.