Fermi Sees Unusually High Options Volume (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) saw some unusual options trading on Thursday. Investors purchased 77,536 call options on the company. This is an increase of 133% compared to the typical volume of 33,313 call options.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 for the company. Texas Capital raised Fermi to a “strong-buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fermi in a research note on Monday, March 23rd. Wall Street Zen downgraded Fermi from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Citizens Jmp started coverage on Fermi in a research note on Monday, February 9th. They set a “market outperform” rating and a $30.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fermi currently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Insider Buying and Selling

In other Fermi news, insider Charles Lynn Hamilton sold 398,140 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total value 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. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Griffin Perry sold 9,000,000 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $5.02, for a total transaction of $45,180,000.00. Following the completion of the transaction, the insider owned 62,946,450 shares of the company’s stock, valued at approximately $315,991,179. This trade represents a 12.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,435,207 shares of company stock valued at $67,803,539.

Institutional Trading of Fermi

A number of hedge funds have recently bought and sold shares of the business. Leonteq Securities AG acquired a new stake in Fermi in the 4th quarter valued at about $30,000. PNC Financial Services Group Inc. acquired a new stake in shares of Fermi in the 4th quarter worth $36,000. Aspect Partners LLC acquired a new stake in shares of Fermi in the 4th quarter worth $38,000. SBI Securities Co. Ltd. acquired a new stake in shares of Fermi in the 4th quarter worth $41,000. Finally, MML Investors Services LLC acquired a new stake in shares of Fermi in the 4th quarter worth $81,000.

Fermi Stock Performance

Shares of FRMI traded up $1.11 during mid-day trading on Thursday, hitting $7.11. 38,130,907 shares of the company were exchanged, compared to its average volume of 11,536,070. The company has a 50 day moving average of $6.31 and a 200-day moving average of $10.79. The stock has a market cap of $4.53 billion and a price-to-earnings ratio of -8.56. Fermi has a 1-year low of $4.47 and a 1-year high of $36.99.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings data 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). Research analysts anticipate that Fermi will post 0.4 earnings per share for the current fiscal 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.