Fermi (NASDAQ:FRMI) Major Shareholder Sells $4,086,180.00 in Stock

Key Points

• Major shareholder Toby Neugebauer sold 1.297 million Fermi shares at an average price of $3.15, generating $4.09 million. His remaining stake totals 43.36 million shares, a 2.9% reduction.
• Fermi shares rose $0.23 to $3.39, but remain near their 52-week low of $3.00 and well below the 52-week high of $31.47. The company reported a quarterly loss of $0.04 per share, beating estimates by $0.02.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $20.67, despite recent target cuts. Institutional investors including BlueCrest Capital and Whetstone Capital have recently established positions.

Fermi Inc. (NASDAQ:FRMI - Get Free Report) major shareholder Toby Neugebauer sold 1,297,200 shares of Fermi stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $3.15, for a total value of $4,086,180.00. Following the transaction, the insider owned 43,359,176 shares in the company, valued at $136,581,404.40. This represents a 2.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Fermi Price Performance

FRMI traded up $0.23 during trading on Thursday, reaching $3.39. 21,714,987 shares of the stock traded hands, compared to its average volume of 15,714,058. The stock has a market cap of $2.17 billion and a price-to-earnings ratio of -2.87. The stock's 50-day simple moving average is $5.07 and its two-hundred day simple moving average is $5.99. Fermi Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $31.47.

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. Research analysts anticipate that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fermi

Several hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in shares of Fermi by 139.1% during the third quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company's stock worth $44,000 after buying an additional 6,083 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Fermi during the second quarter worth about $1,845,000. Tidal Investments LLC raised its stake in shares of Fermi by 348.2% in 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 Fermi in the 2nd quarter valued at $12,009,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Fermi during the 2nd quarter worth approximately $33,276,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FRMI. Weiss Ratings cut shares of Fermi from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 14th. Stifel Nicolaus reduced their target price on Fermi from $29.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Finally, Mizuho cut their target price on Fermi from $27.00 to $11.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.67.

About Fermi

Fermi Inc is an energy and infrastructure company focused on developing large-scale power generation and data center facilities. The company is pursuing an integrated model designed to provide reliable electricity for high-demand computing applications, including artificial intelligence and cloud infrastructure.

Its development activities center on the planned Fermi Nuclear Campus in the Texas Panhandle. The project is expected to combine nuclear power with other generation and energy technologies, potentially including natural gas, renewable energy and battery storage, alongside data center infrastructure.

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