Fermi (NASDAQ:FRMI) Trading Down 8.8% - Here's What Happened

Key Points

• Shares fell 8.8% to $7.91 on Thursday, with about 1.97 million shares traded—roughly 72% below the stock's average daily volume.
• Analysts have an average rating of "Buy" and an average price target of $31.44, with recent initiations from Citizens Jmp, Citigroup and Macquarie (outperform) while Weiss Ratings issued a sell.
• Fermi is an AI-focused energy/hyperscaler aiming to deliver up to 11 gigawatts of low‑carbon power (1.1 GW expected online by end of 2026); the company has a $4.95 billion market cap and a negative P/E (-9.57).

Shares of Fermi Inc. (NASDAQ:FRMI - Get Free Report) dropped 8.8% on Thursday . The stock traded as low as $7.91 and last traded at $7.9130. Approximately 1,968,047 shares changed hands during trading, a decline of 72% from the average daily volume of 7,034,034 shares. The stock had previously closed at $8.68.

Analyst Ratings Changes

FRMI has been the topic of a number of research analyst reports. Citizens Jmp initiated coverage on shares of Fermi in a research note on Monday, February 9th. They issued a "market outperform" rating and a $30.00 price target on the stock. Macquarie Infrastructure reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Fermi in a report on Wednesday, November 12th. Citigroup initiated coverage on shares of Fermi in a research report on Monday, February 9th. They issued an "outperform" rating on the stock. Weiss Ratings assumed coverage on shares of Fermi in a research note on Wednesday, December 24th. They set a "sell (e+)" rating for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Fermi in a research report on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Fermi has an average rating of "Buy" and an average price target of $31.44.

Fermi Stock Performance

The business's fifty day simple moving average is $9.26. The stock has a market cap of $4.95 billion and a P/E ratio of -9.57.

Hedge Funds Weigh In On Fermi

Several hedge funds and other institutional investors have recently modified their holdings of FRMI. Leonteq Securities AG purchased a new position in Fermi in the 4th quarter worth approximately $30,000. PNC Financial Services Group Inc. acquired a new stake in shares of Fermi in the fourth quarter valued at approximately $36,000. Aspect Partners LLC acquired a new stake in shares of Fermi in the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. purchased a new position in Fermi during the fourth quarter worth approximately $41,000. Finally, MML Investors Services LLC acquired a new position in Fermi during the fourth quarter worth $81,000.

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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