Fermi Sees Unusually Large Options Volume (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) was the target of unusually large options trading activity on Friday. Traders acquired 23,805 call options on the stock. This is an increase of 34% compared to the average daily volume of 17,765 call options.

Fermi Price Performance

FRMI stock opened at $7.20 on Friday. The company has a 50-day moving average price of $9.12. Fermi has a 12-month low of $7.17 and a 12-month high of $36.99. The stock has a market capitalization of $4.42 billion and a PE ratio of -8.57.

Institutional Trading of Fermi

Several large investors have recently modified their holdings of FRMI. Leonteq Securities AG bought a new position in Fermi during the 4th quarter valued at approximately $30,000. PNC Financial Services Group Inc. bought a new stake in shares of Fermi in the 4th quarter worth approximately $36,000. Aspect Partners LLC bought a new stake in shares of Fermi in the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. purchased a new position in shares of Fermi during the fourth quarter valued at approximately $41,000. Finally, MML Investors Services LLC purchased a new position in shares of Fermi during the fourth quarter valued at approximately $81,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FRMI. Citigroup initiated coverage on Fermi in a research note on Monday, February 9th. They set an “outperform” rating on the stock. Citizens Jmp started coverage on Fermi in a report on Monday, February 9th. They set a “market outperform” rating and a $30.00 target price for the company. Wall Street Zen upgraded Fermi from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings assumed coverage on Fermi in a research note on Wednesday, December 24th. They issued a “sell (e+)” rating on the stock. Finally, Texas Capital upgraded Fermi to a “strong-buy” rating in a research report on Tuesday, January 20th. Three research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $31.44.

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.