Analysts Set Fermi Inc. (NASDAQ:FRMI) Target Price at $26.67

Shares of Fermi Inc. (NASDAQ:FRMI) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $23.7778.

Several analysts have commented on FRMI shares. UBS Group lowered 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. Citizens Jmp started coverage on shares of Fermi in a research report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 price objective on the stock. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective on the stock. in a research report on Friday, May 15th. Wall Street Zen lowered shares of Fermi from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Cantor Fitzgerald started coverage on shares of Fermi in a research report on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price objective on the stock.

Insider Buying and Selling at Fermi

In other news, CFO Miles E. Everson sold 427,004 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $4.58, for a total value of $1,955,678.32. Following the sale, the chief financial officer owned 9,969,791 shares of the company’s stock, valued at $45,661,642.78. The trade was a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles Lynn Hamilton sold 398,140 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,823,481.20. Following the completion of the sale, the insider directly owned 5,525,910 shares in the company, valued at approximately $25,308,667.80. This trade represents a 6.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,435,207 shares of company stock worth $67,803,539.

Institutional Trading of Fermi

Hedge funds and other institutional investors have recently modified their holdings of the business. Leonteq Securities AG bought a new stake in shares of Fermi in the fourth quarter valued at approximately $30,000. PNC Financial Services Group Inc. bought a new stake in shares of Fermi in the fourth quarter valued at approximately $36,000. Aspect Partners LLC bought a new stake in shares of Fermi in the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. bought a new stake in shares of Fermi in the fourth quarter valued at approximately $41,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Fermi in the first quarter valued at approximately $73,000.

Fermi Stock Performance

Shares of FRMI stock opened at $6.06 on Friday. The firm has a market cap of $3.86 billion and a price-to-earnings ratio of -5.32. Fermi has a 52 week low of $4.47 and a 52 week high of $36.99. The firm’s 50-day simple moving average is $6.06 and its two-hundred day simple moving average is $9.94.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.25). Analysts forecast that Fermi will post 0.4 earnings per share for the current year.

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.