Fermi Inc. (NASDAQ:FRMI – Get Free Report) was up 26.7% during mid-day trading on Friday. The company traded as high as $2.92 and last traded at $2.61. Approximately 72,322,466 shares traded hands during mid-day trading, an increase of 326% from the average daily volume of 16,996,029 shares. The stock had previously closed at $2.06.
Recent Fermi Headlines
Here are a few of the latest headlines about FRMI:
- Positive Sentiment: An unnamed hyperscaler committed $200 million toward 600 MW at Project Matador, and Fermi secured a separate $15 million agreement for early construction and site-development work. The agreements offer progress toward the project, though they do not erase the loss of a previously terminated $6.5 billion deal. Barron’s: Fermi’s New AI Deal Softens the Blow of a $6.5 Billion Setback
- Neutral Sentiment: Fermi said it reached new agreements with an investment-grade hyperscaler, but the counterparty was not disclosed. The earnings call pointed to potential hyperscaler growth while highlighting risks; investors may look for more detail on the agreements and project execution. TipRanks: Fermi Earnings Call Signals Hyperscaler Growth Despite Risks
- Negative Sentiment: Fermi reported a third-quarter loss of $0.22 per share, missing the roughly $0.07–$0.08 loss analysts expected. The company also faces the setback of terminating a $6.5 billion deal, while a Seeking Alpha contributor downgraded the stock, citing its speculative outlook. MarketScreener: Fermi Posts Q3 Loss Seeking Alpha: Fermi Is Too Speculative For Optimism
Wall Street Analysts Forecast Growth
Several research analysts have commented on FRMI shares. Cantor Fitzgerald reduced their price objective on Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fermi in a report on Thursday. Finally, Mizuho lowered their target price on Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fermi currently has an average rating of “Moderate Buy” and an average price target of $13.83.
Get Our Latest Stock Report on Fermi
Fermi Stock Performance
The firm has a market cap of $1.67 billion and a P/E ratio of -2.21. The firm’s fifty day moving average price is $3.58 and its 200 day moving average price is $6.13.
Fermi (NASDAQ:FRMI – Get Free Report) last announced its quarterly earnings results on Thursday, November 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.15). As a group, analysts expect that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Fermi news, major shareholder Toby Neugebauer sold 5,000,000 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $1.52, for a total transaction of $7,600,000.00. Following the completion of the sale, the insider owned 84,813,010 shares in the company, valued at $128,915,775.20. This represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 12,125,749 shares of company stock valued at $28,639,969 over the last ninety days. Insiders own 2.83% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in FRMI. State Street Corp boosted its position in Fermi by 49.2% during the third quarter. State Street Corp now owns 6,311,025 shares of the company’s stock valued at $26,569,000 after purchasing an additional 2,081,579 shares in the last quarter. Marshall Wace LLP raised its holdings in Fermi by 37.8% in the third quarter. Marshall Wace LLP now owns 5,730,854 shares of the company’s stock worth $24,127,000 after purchasing an additional 1,570,564 shares in the last quarter. BlackRock Inc. bought a new position in Fermi in the second quarter worth about $38,499,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Fermi during the second quarter valued at about $33,276,000. Finally, Jump Financial LLC purchased a new stake in shares of Fermi during the third quarter valued at about $12,288,000.
About Fermi
Fermi Inc. develops energy and data-center infrastructure intended to support artificial intelligence and other high-performance computing needs. Its business centers on planning and building integrated campuses that pair large-scale power resources with data-center facilities. The company’s flagship development is Project Matador, a planned campus in the Texas Panhandle near Amarillo. The project is designed to combine data centers with a mix of power-generation and energy-storage resources; it remains a development project rather than an established portfolio of operating facilities.
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