Fermi (NASDAQ:FRMI) Trading 7.6% Higher – What’s Next?

Fermi Inc. (NASDAQ:FRMI) shares traded up 7.6% during trading on Wednesday . The stock traded as high as $8.97 and last traded at $8.4750. Approximately 6,143,019 shares traded hands during trading, a decline of 52% from the average session volume of 12,679,856 shares. The stock had previously closed at $7.88.

Analyst Upgrades and Downgrades

FRMI has been the topic of several research analyst reports. UBS Group downgraded Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price objective on the stock. in a report on Tuesday, May 5th. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price target on the stock. in a research note on Friday, May 15th. Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Cantor Fitzgerald assumed coverage on shares of Fermi in a research note on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price objective for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Fermi in a report on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fermi presently has an average rating of “Moderate Buy” and an average target price of $23.78.

Fermi Trading Up 9.7%

The firm has a market cap of $6.06 billion and a PE ratio of -8.33. The firm has a 50 day moving average price of $6.09 and a 200-day moving average price of $8.11.

Fermi (NASDAQ:FRMI) last released its earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). Equities analysts forecast that Fermi Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Fermi

In related news, insider Charles Lynn Hamilton sold 398,140 shares of the business’s stock in a transaction 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 transaction, the insider owned 5,525,910 shares in the company, valued at approximately $25,308,667.80. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Blanes Jacobo Ortiz sold 427,363 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $4.58, for a total value of $1,957,322.54. Following the completion of the transaction, the chief operating officer directly owned 5,469,092 shares in the company, valued at $25,048,441.36. This trade represents a 7.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,593,748 shares of company stock worth $68,803,933 over the last ninety days.

Institutional Trading of Fermi

A number of institutional investors have recently bought and sold shares of FRMI. Leonteq Securities AG purchased a new position in shares of Fermi in the 4th quarter valued at about $30,000. PNC Financial Services Group Inc. acquired a new position in Fermi in the fourth quarter valued at approximately $36,000. Aspect Partners LLC acquired a new position in Fermi in the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. purchased a new position in Fermi in the fourth quarter valued at approximately $41,000. Finally, NewEdge Advisors LLC purchased a new position in Fermi in the first quarter valued at approximately $54,000.

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.