Fermi (NASDAQ:FRMI) Reaches New 52-Week Low – Should You Sell?

Fermi Inc. (NASDAQ:FRMI)’s share price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $3.76 and last traded at $3.7650, with a volume of 2090723 shares. The stock had previously closed at $3.97.

Wall Street Analysts Forecast Growth

FRMI has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Weiss Ratings cut Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Finally, Mizuho reduced their price target on Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Fermi currently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Fermi Trading Down 5.9%

The company has a market cap of $2.40 billion and a P/E ratio of -3.17. The company’s 50-day moving average price is $5.35 and its two-hundred day moving average price is $6.11.

Fermi (NASDAQ:FRMI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. During the same period last year, the company earned ($0.02) earnings per share. As a group, analysts anticipate that Fermi Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Fermi

Several institutional investors and hedge funds have recently made changes to their positions in FRMI. Integrated Wealth Concepts LLC bought a new position in Fermi during the second quarter worth $41,000. NewEdge Advisors LLC bought a new stake in Fermi during the first quarter valued at $54,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Fermi during the first quarter worth $73,000. Janney Montgomery Scott LLC bought a new position in shares of Fermi in the 1st quarter worth about $91,000. Finally, Financial Management Professionals Inc. bought a new position in shares of Fermi in the 2nd quarter worth about $104,000.

About Fermi

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.