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

Fermi Inc. (NASDAQ:FRMI) was the recipient of unusually large options trading on Friday. Stock traders purchased 191,233 call options on the company. This represents an increase of 258% compared to the average volume of 53,483 call options.

Analysts Set New Price Targets

FRMI has been the subject of several analyst reports. Cantor Fitzgerald began 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fermi in a report on Thursday, July 2nd. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price target for the company. in a research report on Friday, May 15th. Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, UBS Group downgraded shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price objective on the stock. in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Fermi has a consensus rating of “Moderate Buy” and an average price target of $22.44.

Insider Buying and Selling at Fermi

In related news, insider Mesut Uzman sold 79,509 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total transaction of $501,701.79. Following the completion of the sale, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. This represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Richard Perry sold 863,637 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total value of $6,313,186.47. Following the completion of the transaction, the director directly owned 15,827,807 shares in the company, valued at approximately $115,701,269.17. This represents a 5.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,022,178 shares of company stock valued at $7,313,580 in the last ninety days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB purchased a new position in shares of Fermi during the second quarter valued at about $511,000. Financial Management Professionals Inc. purchased a new stake in shares of Fermi in the second quarter worth about $104,000. Byrne Asset Management LLC purchased a new stake in shares of Fermi in the second quarter worth about $109,000. M.E. Allison & CO. Inc. purchased a new stake in shares of Fermi in the second quarter worth about $137,000. Finally, NewEdge Advisors LLC bought a new position in Fermi during the first quarter valued at approximately $54,000.

Fermi Price Performance

Shares of FRMI opened at $7.40 on Friday. Fermi has a 1 year low of $4.47 and a 1 year high of $36.99. The company has a 50 day simple moving average of $7.17 and a two-hundred day simple moving average of $7.51. The firm has a market cap of $4.72 billion and a P/E ratio of -6.49.

Fermi (NASDAQ:FRMI) last released its earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.25). On average, sell-side analysts anticipate that Fermi will post 0.34 earnings per share for the current year.

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.