Fermi Inc. (NASDAQ:FRMI) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Fermi a “Moderate Buy” consensus across 13 firms, with seven buys, two strong buys, three holds and one sell. The average 12-month price target is $20.67, though several firms recently lowered their targets.
• Fermi shares opened at $6.28, down 13.1%, and remain well below their 52-week high of $36.99. The company reported a quarterly loss of $0.30 per share, missing estimates by $0.25.
• Insiders sold more than 1 million shares worth approximately $7.3 million during the last quarter, including significant sales by a director and another insider.

Shares of Fermi Inc. (NASDAQ:FRMI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.6667.

Several equities analysts have weighed in on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Fermi in a report on Thursday, July 2nd. Stifel Nicolaus lowered their target price on Fermi from $29.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, June 23rd. UBS Group cut Fermi from a "buy" rating to a "neutral" rating and set a $6.00 price target on the stock. in a research report on Tuesday, May 5th. Mizuho cut their price target on Fermi from $27.00 to $11.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Evercore lowered Fermi from an "outperform" rating to an "in-line" rating and set a $11.00 price objective for the company. in a report on Friday, May 15th.

Insider Transactions at Fermi

In other news, Director James Richard 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 sale, 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 document filed with the SEC, which is available at the SEC website. Also, insider Mesut Uzman sold 79,509 shares of the company's 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 sale, the insider owned 670,491 shares in the company, valued at $4,230,798.21. The trade was a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,022,178 shares of company stock valued at $7,313,580 in the last quarter.

Institutional Investors Weigh In On Fermi

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

Fermi Stock Down 13.1%

FRMI opened at $6.28 on Wednesday. The stock has a market cap of $4.00 billion and a price-to-earnings ratio of -5.51. Fermi has a twelve month low of $4.47 and a twelve month high of $36.99. The company's 50-day moving average price is $7.19 and its two-hundred day moving average price is $7.47.

Fermi (NASDAQ:FRMI - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.25). As a group, sell-side analysts anticipate that Fermi will post 0.34 earnings per share for the current year.

Fermi Company Profile

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.

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