Fermi (NASDAQ:FRMI) Stock Gets Price Target Reduction from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered Fermi’s price target from $12 to $8 while maintaining an “overweight” rating, implying roughly 136% upside from the prior close.
• Analyst sentiment remains broadly positive, with Fermi carrying a “Moderate Buy” consensus rating and an average price target of $20.67, despite recent target cuts from Mizuho and Stifel.
• Fermi shares opened at $3.39 and remain near their one-year low; the company reported a quarterly loss of $0.04 per share, better than the $0.06 consensus estimate, while a major shareholder recently sold 2.75 million shares.

Fermi (NASDAQ:FRMI - Get Free Report) had its price objective lowered by equities research analysts at Cantor Fitzgerald from $12.00 to $8.00 in a research note issued on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 135.99% from the company's previous close.

FRMI has been the topic of several other research reports. Mizuho decreased their price target on shares of Fermi from $27.00 to $11.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. Weiss Ratings lowered Fermi from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 14th. Finally, Stifel Nicolaus cut their price objective on Fermi from $29.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, June 23rd. Two 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 assigned a Sell rating to the stock. According to MarketBeat.com, Fermi presently has an average rating of "Moderate Buy" and a consensus price target of $20.67.

Fermi Price Performance

Fermi stock opened at $3.39 on Friday. The stock has a market cap of $2.17 billion and a P/E ratio of -2.87. Fermi has a 1 year low of $3.00 and a 1 year high of $31.47. The firm's 50 day moving average price is $5.02 and its 200-day moving average price is $5.97.

Fermi (NASDAQ:FRMI - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same quarter in the previous year, the company posted ($0.02) earnings per share. As a group, equities analysts expect that Fermi will post -0.33 EPS for the current year.

Insider Buying and Selling at Fermi

In related news, major shareholder Toby R. Neugebauer sold 2,750,000 shares of the business's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $3.73, for a total value of $10,257,500.00. Following the sale, the insider owned 91,609,659 shares in the company, valued at approximately $341,704,028.07. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.83% of the company's stock.

Institutional Investors Weigh In On Fermi

Hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in shares of Fermi in the 2nd quarter worth $41,000. Farther Finance Advisors LLC raised its position in shares of Fermi by 139.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company's stock valued at $44,000 after buying an additional 6,083 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Fermi during the 1st quarter valued at about $54,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Fermi during the 1st quarter valued at about $73,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Fermi in the 1st quarter valued at about $91,000.

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.

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