Fermi (NASDAQ:FRMI) Stock: Insider Toby Neugebauer Sells 2,563,800 Shares

Fermi Inc. (NASDAQ:FRMI) major shareholder Toby Neugebauer sold 2,563,800 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $2.04, for a total value of $5,230,152.00. Following the transaction, the insider directly owned 42,077,276 shares of the company’s stock, valued at $85,837,643.04. The trade was a 5.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Fermi Stock Down 15.9%

Shares of FRMI stock traded down $0.29 during trading on Thursday, hitting $1.53. The company had a trading volume of 41,416,841 shares, compared to its average volume of 25,128,548. The stock’s 50-day moving average is $3.95 and its two-hundred day moving average is $6.35. Fermi Inc. has a 52 week low of $1.44 and a 52 week high of $27.07.

Fermi (NASDAQ:FRMI) last announced its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. During the same quarter in the prior year, the business earned ($0.02) EPS. Sell-side analysts predict that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Key Stories Impacting Fermi

Here are the key news stories impacting Fermi this week:

• Neutral Sentiment: Reports clarified that an emergency alert involving the Fermi II nuclear plant in Newport was sent accidentally during a drill; officials said there was no emergency. This concerns the nuclear facility, not Fermi Inc., so it appears to have little direct bearing on FRMI. Read More. · Read More.
• Neutral Sentiment: Fermi held its annual shareholder meeting and board vote on October 30. The available report does not provide details suggesting a material change in the company’s outlook. Read More.
• Negative Sentiment: Major shareholder Toby Neugebauer reported selling 5 million shares on Nov. 5, 94,000 shares on Nov. 4, and 2.56 million shares on Nov. 3—about 7.66 million shares in total. Such substantial insider selling may weigh on sentiment, although the filings do not establish the reason for the sales. Read More.
• Negative Sentiment: Coverage says a data-center lease deadline passed, raising investor questions about the lease and its implications for Fermi’s cash-flow outlook. One report linked the missed deadline to a sharp share decline; the supplied articles do not specify definitive lease terms or a resolution. Read More. · Read More.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reduced their price objective on Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Mizuho dropped their price target on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. Finally, Weiss Ratings lowered shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FRMI. DBA Trading LLC bought a new stake in shares of Fermi in the 3rd quarter worth approximately $120,000. Fulcrum Asset Management LLP purchased a new position in shares of Fermi during the third quarter valued at approximately $410,000. Pictet Asset Management Holding SA purchased a new position in shares of Fermi during the third quarter valued at approximately $218,000. CenterBook Partners LP raised its holdings in shares of Fermi by 997.7% during the third quarter. CenterBook Partners LP now owns 1,879,838 shares of the company’s stock valued at $7,914,000 after acquiring an additional 1,708,587 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Fermi during the third quarter valued at approximately $64,000.

About Fermi

Fermi, Inc (NASDAQ: FRMI) is an energy and infrastructure company focused on developing large-scale power and data center facilities for artificial intelligence and other high-performance computing applications. Its business model centers on integrating electricity generation, energy storage and data center infrastructure within a single campus.

The company’s principal development is Project Matador, a planned energy and data center campus in the Texas Panhandle. The project is designed to use a mix of power sources, including nuclear energy, natural gas, solar generation and battery storage, with the goal of providing reliable electricity for data center customers.

Fermi’s activities are currently concentrated in the United States, particularly Texas.