Fermi (FRMI) Stock Price, News & Analysis

Company Overview

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. In a world in which power is considered a key currency for AI innovation, we believe that Fermi has a unique combination of important advantages that will help propel America’s AI economy forward. Fermi offers investors an opportunity to invest in AI growth and grid-independent energy infrastructure through a tax-efficient public REIT structure. At the heart of our vision is the Advanced Energy and Intelligence Campus at Texas Tech University (“Project Matador”), which is a multi-gigawatt energy and data center development campus designed to support the accelerating needs of to-be-built AI infrastructure. Situated on a 5,236-acre site in Amarillo, Texas, Project Matador is secured by Fermi pursuant to a 99-year Ground Lease Agreement on land owned by the Texas Tech University System (as amended, the “Lease”), which we believe will provide long-term site control and potential efficiencies through a partnership with a public university. We believe our HyperRedundant™ site is strategically located adjacent to one of the largest known natural gas fields in the United States that is (i) within a high-radiance solar corridor, (ii) well-positioned for advanced nuclear development and (iii) supportive of multiple energy pathways including near-term natural gas power development. While Fermi’s mission is to expand beyond natural gas-fired generation, we believe our ready access to large volumes of natural gas from adjacent pipeline infrastructure could enable us to scale up to 11 GW of natural gas-fired base load power generation over time. Beyond natural gas-fired generation, our Combined License Application (“COL Application”) for 4 GW of nuclear power has undergone a preliminary review and has been accepted for processing by the U.S. Nuclear Regulatory Commission (the “NRC”), which reinforces Project Matador’s readiness for low-carbon baseload generation beyond natural gas-fired generation. With existing water, fiber, and natural gas infrastructure readily accessible, we believe Fermi is uniquely-positioned to deploy an integrated mix of natural gas, nuclear and solar energy power to enable grid-independent, high-density computing power on the Project Matador Site. Through a combination of natural gas turbine purchases, a focus on procuring other long lead-time equipment, and negotiations with Southwestern Public Service Company (“SPS”), the local utility, we expect to secure approximately 1.1 GW of power for our operations by the end of 2026 (including an expected 200 megawatts (“MW”) from our expected contractual arrangement with SPS). We believe this rapid power delivery timeline is a critical differentiator that will allow Fermi to attract tenants that require near-term access to large-scale, reliable energy to power their AI data center compute needs. Project Matador is in close proximity to the U.S. Department of Energy’s (the “DOE”) Pantex Plant (the “Pantex Plant”), the nation’s primary nuclear weapons center, which employs approximately 4,600 skilled nuclear professionals. Our proximity to the Pantex Plant offers us the opportunity to access a highly experienced workforce steeped in nuclear safety culture and expertise. We believe this proximity to critical United States nuclear and security infrastructure will be highly attractive to our prospective tenants. With key regulatory approvals in progress, growing stakeholder relationships and energy infrastructure readiness, we believe that Project Matador represents unmatched, sector-defining potential to deliver up to 11 GW of power to on-site compute centers by 2038 through a redundant and flexible mix of natural gas, nuclear and solar energy power. Project Matador is expected to be anchored by what we believe would become the nation’s second-largest nuclear generation complex with capacity to house up to four AP1000 Pressurized Water Reactors developed by Westinghouse. Through our REIT structure, Fermi offers investors exposure to AI infrastructure growth and long-term, large-scale and reliable energy development in a tax-efficient public vehicle. Our principal executive offices are located in Amarillo, TX.

Key Stats

• Today's Range: $5.61 to $5.89
• 50-Day Range: $4.80 to $8.68
• 52-Week Range: $4.47 to $36.99
• Volume: 7.90 million shs
• Average Volume: 11.91 million shs
• Market Capitalization: $3.69 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $23.78
• Consensus Rating: Moderate Buy

Fermi Stock Analysis - MarketRank™

Fermi scored higher than 76% of companies evaluated by MarketBeat, and ranked 20th out of 95 stocks in the financial services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.2 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Fermi has received a consensus rating of Moderate Buy. The company's average rating score is 2.77, and is based on 2 strong buy ratings, 7 buy ratings, 3 hold ratings, and 1 sell rating.

Upside Potential

Fermi has a consensus price target of $23.78, representing about 311.7% upside from its current price of $5.78.

Amount of Analyst Coverage

Fermi has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 270.00%

Earnings Growth

Earnings for Fermi are expected to grow by 270.00% in the coming year, from $0.40 to $1.48 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Fermi is -6.89, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Fermi is -6.89, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Fermi has a P/B Ratio of 3.44. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

5.71% of the float of Fermi has been sold short.

Short Interest Ratio / Days to Cover

Fermi has a short interest ratio ("days to cover") of 1.48, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Fermi has recently increased by 72.77%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Fermi does not currently pay a dividend.

Dividend Growth

Fermi does not have a long track record of dividend growth.

News and Social Media

• Score: 3.2 / 5
• News Sentiment: 0.08

News Sentiment

Fermi has a news sentiment score of 0.08. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.80 average news sentiment score of Financial Services companies.

News Coverage This Week

MarketBeat has tracked 39 news articles for Fermi this week, compared to 13 articles on an average week.

Search Interest

71 people have searched for FRMI on MarketBeat in the last 30 days. This is an increase of 223% compared to the previous 30 days.

MarketBeat Follows

33 people have added Fermi to their MarketBeat watchlist in the last 30 days. This is an increase of 65% compared to the previous 30 days.

Company Ownership

• Score: 0.7 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Fermi insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $67,803,539.00 in company stock.

Percentage Held by Institutions

Fermi has minimal institutional ownership at this time.

Company Calendar

• Last Earnings: 5/14/2026
• Today: 5/20/2026
• Fiscal Year End: 12/31/2026

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Financial Services
• Industry: REIT
• Sub-Industry: Trading
• Current Symbol: NASDAQ:FRMI
• CIK: 2071778
• Web: N/A
• Phone: (512) 552-0219
• Fax: N/A
• Employees: 1
• Year Founded: 2025

Price Target and Rating

• Average Price Target for Fermi: $23.78
• High Price Target: $37.00
• Low Price Target: $6.00
• Potential Upside/Downside: +311.0%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.77
• Research Coverage: 13 Analysts

Profitability

• EPS (Trailing Twelve Months): ($0.84)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: 14.46
• P/E Growth: N/A
• Net Income: -$486.38 million
• Net Margins: N/A
• Pretax Margin: N/A
• Return on Equity: -109.36%
• Return on Assets: -71.38%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 1.02
• Quick Ratio: 2.31

Sales & Book Value

• Annual Sales: N/A
• Price / Sales: N/A
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $1.68 per share
• Price / Book: 3.44

Miscellaneous

• Outstanding Shares: 637,570,000
• Free Float: N/A
• Market Cap: $3.69 billion
• Optionable: N/A
• Beta: N/A