Fermi Target of Unusually High Options Trading (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) saw unusually large options trading activity on Friday. Stock investors purchased 191,233 call options on the stock. This represents an increase of 258% compared to the average volume of 53,483 call options.

Insider Transactions at Fermi

In other news, Director James Richard Perry sold 863,637 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total value of $6,313,186.47. Following the completion of the sale, the director owned 15,827,807 shares of the company’s stock, valued at approximately $115,701,269.17. This represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mesut Uzman sold 79,509 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $6.31, for a total transaction of $501,701.79. Following the transaction, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. This represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,022,178 shares of company stock worth $7,313,580 in the last three months.

Institutional Investors Weigh In On Fermi

Several institutional investors have recently added to or reduced their stakes in the business. Leonteq Securities AG purchased a new stake in shares of Fermi during the fourth quarter worth about $30,000. PNC Financial Services Group Inc. purchased a new position in shares of Fermi in the 4th quarter valued at approximately $36,000. Aspect Partners LLC acquired a new stake in Fermi in the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. acquired a new stake in Fermi in the 4th quarter worth approximately $41,000. Finally, NewEdge Advisors LLC purchased a new stake in Fermi during the 1st quarter worth approximately $54,000.

Wall Street Analysts Forecast Growth

FRMI has been the topic of several recent research reports. Wall Street Zen cut Fermi from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Evercore lowered Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price target for the company. in a research report on Friday, May 15th. Cantor Fitzgerald assumed coverage on Fermi in a research note on Thursday, April 9th. They issued an “overweight” rating and a $8.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Fermi in a research report on Thursday, July 2nd. Finally, Stifel Nicolaus lowered their price target on shares of Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Fermi presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.44.

Fermi Trading Up 17.1%

Shares of FRMI stock opened at $7.40 on Friday. The business’s fifty day simple moving average is $7.17 and its 200-day simple moving average is $7.51. The company has a market cap of $4.72 billion and a PE ratio of -6.49. Fermi has a 12-month low of $4.47 and a 12-month high of $36.99.

Fermi (NASDAQ:FRMI) last posted 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). On average, equities analysts forecast that Fermi will post 0.34 earnings per share for the current 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.