Fermi Inc. (NASDAQ:FRMI) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Fermi, with seven buy, two strong-buy, three hold and one sell rating among 13 brokerages. The average 12-month price target is $20.67.
• Several analysts have recently reduced their targets, including Mizuho to $11 from $27 and Stifel Nicolaus to $17 from $29, while both retained positive ratings. Fermi shares opened at $4.77, near their one-year low of $4.47 and well below the $36.99 high.
• Fermi reported a quarterly loss of $0.04 per share, beating the consensus loss estimate of $0.06; analysts expect a full-year loss of approximately $0.33 per share. Director James Perry also sold 863,637 shares for about $6.3 million.

Fermi Inc. (NASDAQ:FRMI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $20.6667.

A number of analysts recently commented on the company. Mizuho decreased their price objective on Fermi from $27.00 to $11.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. Stifel Nicolaus cut their target price on shares of Fermi from $29.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, June 23rd. Finally, Weiss Ratings lowered shares of Fermi from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 14th.

Insider Activity at Fermi

In other news, Director James Perry sold 863,637 shares of the business'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 transaction, the director owned 15,827,807 shares of the company's stock, valued at $115,701,269.17. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Trading of Fermi

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in shares of Fermi during the 2nd quarter worth $1,845,000. Tidal Investments LLC boosted its holdings in shares of Fermi by 348.2% during the second quarter. Tidal Investments LLC now owns 173,114 shares of the company's stock worth $1,586,000 after purchasing an additional 134,486 shares during the last quarter. Whetstone Capital Advisors LLC purchased a new stake in shares of Fermi in the second quarter valued at $12,009,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Fermi in the second quarter valued at $33,276,000. Finally, Concorde Asset Management LLC increased its stake in Fermi by 39.0% in the second quarter. Concorde Asset Management LLC now owns 53,650 shares of the company's stock valued at $491,000 after purchasing an additional 15,040 shares during the last quarter.

Fermi Stock Performance

FRMI stock opened at $4.77 on Thursday. The stock's 50 day moving average price is $5.96 and its 200 day moving average price is $6.53. The firm has a market cap of $3.06 billion and a P/E ratio of -4.04. Fermi has a 1 year low of $4.47 and a 1 year high of $36.99.

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

Fermi Company Profile

Fermi Inc is an energy and digital infrastructure company developing large-scale power-generation and data-center facilities to support energy-intensive computing, including artificial intelligence applications. Its business focuses on integrating electricity generation, transmission infrastructure and data-center capacity within dedicated campuses.

The company's primary development effort is the Fermi America project near Amarillo, Texas, also referred to as Project Matador. The planned campus is intended to use a diversified energy portfolio that may include natural gas, nuclear power, solar generation and battery storage, with the goal of providing reliable electricity for data centers and other high-demand technology users.

Fermi's operations are currently centered on the United States, particularly Texas.

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