Burford Brothers Inc. purchased a new stake in shares of Fermi Inc. (NASDAQ:FRMI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 294,416 shares of the company's stock, valued at approximately $2,697,000. Fermi accounts for about 1.0% of Burford Brothers Inc.'s holdings, making the stock its 24th largest position.
Several other hedge funds have also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in shares of Fermi in the 4th quarter valued at about $41,000. Empire Life Investments Inc. purchased a new position in Fermi during the fourth quarter valued at approximately $5,611,000. ANTIPODES PARTNERS Ltd purchased a new position in Fermi during the fourth quarter valued at approximately $465,000. HighTower Advisors LLC acquired a new position in Fermi in the 4th quarter valued at approximately $95,000. Finally, PNC Financial Services Group Inc. acquired a new position in Fermi in the 4th quarter valued at approximately $36,000.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Mizuho decreased their target price on shares of Fermi from $27.00 to $11.00 and set an "outperform" rating for the company in a research note on Tuesday, July 28th. Evercore downgraded shares of Fermi from an "outperform" rating to an "in-line" rating and set a $11.00 price target on the stock. in a research note on Friday, May 15th. Weiss Ratings lowered Fermi from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 14th. Stifel Nicolaus reduced 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. Finally, Wall Street Zen downgraded Fermi from a "hold" rating to a "sell" rating in a research note on Sunday, May 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.67.
View Our Latest Report on FRMI
Fermi Trading Up 1.9%
FRMI stock opened at $4.86 on Friday. The firm has a market cap of $3.11 billion and a PE ratio of -4.12. Fermi Inc. has a 1 year low of $4.47 and a 1 year high of $36.99. The company has a fifty day simple moving average of $6.53 and a 200 day simple moving average of $6.83.
Fermi (NASDAQ:FRMI - Get Free Report) last posted 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 last year, the company earned ($0.02) EPS. As a group, analysts forecast that Fermi Inc. will post -0.33 EPS for the current fiscal year.
Insider Activity
In other news, Director James Perry sold 863,637 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total transaction of $6,313,186.47. Following the completion of the sale, the director owned 15,827,807 shares in the company, valued at approximately $115,701,269.17. This represents a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Fermi Profile
(
Free Report)
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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