Fermi (NASDAQ:FRMI) Stock Price Down 4.4% on Analyst Downgrade

Fermi Inc. (NASDAQ:FRMI) was down 4.4% during trading on Monday after Cantor Fitzgerald lowered their price target on the stock from $12.00 to $8.00. Cantor Fitzgerald currently has an overweight rating on the stock. Fermi traded as low as $2.97 and last traded at $3.02. Approximately 21,746,630 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 15,871,330 shares. The stock had previously closed at $3.16.

A number of other brokerages also recently issued reports on FRMI. Weiss Ratings downgraded Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Mizuho decreased their target price on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Finally, Stifel Nicolaus decreased their target price on shares of Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Two research 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 given a Sell rating to the stock. According to data from MarketBeat.com, Fermi currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Insider Activity at Fermi

In other news, major shareholder Toby R. Neugebauer sold 2,750,000 shares of the company’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.73, for a total value of $10,257,500.00. Following the completion of the transaction, the insider owned 91,609,659 shares of the company’s stock, valued at $341,704,028.07. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.83% of the stock is owned by insiders.

Institutional Trading of Fermi

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in Fermi during the second quarter valued at approximately $41,000. SteelPeak Wealth LLC purchased a new position in Fermi during the 3rd quarter valued at approximately $42,000. Farther Finance Advisors LLC increased its stake in Fermi by 139.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company’s stock worth $44,000 after acquiring an additional 6,083 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Fermi in the 1st quarter worth approximately $54,000. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Fermi during the 1st quarter worth approximately $73,000.

Fermi Stock Performance

The firm has a market capitalization of $1.94 billion and a PE ratio of -2.56. The company has a fifty day moving average price of $4.96 and a 200-day moving average price of $5.95.

Fermi (NASDAQ:FRMI) last posted its earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. During the same period in the prior year, the company earned ($0.02) EPS. On average, equities analysts predict that Fermi Inc. will post -0.33 earnings per share for the current year.

Fermi Company Profile

Fermi Inc is an energy and infrastructure company focused on developing large-scale power generation and data center facilities. The company is pursuing an integrated model designed to provide reliable electricity for high-demand computing applications, including artificial intelligence and cloud infrastructure.

Its development activities center on the planned Fermi Nuclear Campus in the Texas Panhandle. The project is expected to combine nuclear power with other generation and energy technologies, potentially including natural gas, renewable energy and battery storage, alongside data center infrastructure.