Fermi (NASDAQ:FRMI) Trading Up 16.4% – Time to Buy?

Fermi Inc. (NASDAQ:FRMI) shares shot up 16.4% during trading on Tuesday . The stock traded as high as $10.07 and last traded at $10.00. 3,858,629 shares traded hands during trading, a decline of 38% from the average session volume of 6,265,295 shares. The stock had previously closed at $8.59.

Analysts Set New Price Targets

Several research firms recently weighed in on FRMI. Macquarie restated an “outperform” rating and set a $35.00 price target on shares of Fermi in a report on Wednesday, November 12th. Berenberg Bank started coverage on shares of Fermi in a research note on Monday, October 27th. They set a “buy” rating and a $37.00 price target for the company. Zacks Research raised shares of Fermi to a “hold” rating in a research note on Tuesday, October 28th. Rothschild Redb upgraded Fermi to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Redburn Partners set a $31.00 price target on Fermi in a report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $31.56.

Fermi Stock Up 15.5%

The company has a fifty day simple moving average of $21.13.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.84) earnings per share (EPS) for the quarter.

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.