Fermi (NASDAQ:FRMI) Major Shareholder Sells 94,000 Shares of Stock

Key Points

• Major shareholder Toby Neugebauer sold 94,000 Fermi shares at an average of $1.99 each, for about $187,060. He retained roughly 89.8 million shares after the transaction.
• Fermi shares fell 15.9% during Thursday trading to $1.53, close to the reported 52-week low of $1.44.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $16.86; recent firms lowered their individual targets.

Fermi Inc. (NASDAQ:FRMI - Get Free Report) major shareholder Toby Neugebauer sold 94,000 shares of Fermi stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $1.99, for a total value of $187,060.00. Following the transaction, the insider directly owned 89,813,010 shares in the company, valued at approximately $178,727,889.90. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Fermi Trading Down 15.9%

Shares of NASDAQ:FRMI traded down $0.29 during mid-day trading on Thursday, reaching $1.53. 41,416,841 shares of the company traded hands, compared to its average volume of 25,128,548. The company's 50 day moving average price is $3.95 and its 200-day moving average price is $6.35. Fermi Inc. has a 52 week low of $1.44 and a 52 week high of $27.07.

Fermi (NASDAQ:FRMI - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. During the same quarter in the prior year, the firm posted ($0.02) EPS. As a group, equities research analysts expect that Fermi Inc. will post -0.33 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on FRMI. Mizuho lowered their target price on shares of Fermi from $27.00 to $11.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 28th. Weiss Ratings lowered Fermi from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 14th. Finally, Cantor Fitzgerald decreased their price target on Fermi from $12.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.86.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. DBA Trading LLC purchased a new position in shares of Fermi in the third quarter worth $120,000. Fulcrum Asset Management LLP purchased a new position in Fermi during the third quarter valued at $410,000. Pictet Asset Management Holding SA bought a new stake in Fermi in the 3rd quarter valued at $218,000. CenterBook Partners LP increased its holdings in Fermi by 997.7% in the 3rd quarter. CenterBook Partners LP now owns 1,879,838 shares of the company's stock valued at $7,914,000 after acquiring an additional 1,708,587 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in Fermi in the 3rd quarter valued at $64,000.

More Fermi News

Here are the key news stories impacting Fermi this week:

• Neutral Sentiment: Reports clarified that an emergency alert involving the Fermi II nuclear plant in Newport was sent accidentally during a drill; officials said there was no emergency. This concerns the nuclear facility, not Fermi Inc., so it appears to have little direct bearing on FRMI. Read More. · Read More.
• Neutral Sentiment: Fermi held its annual shareholder meeting and board vote on October 30. The available report does not provide details suggesting a material change in the company’s outlook. Read More.
• Negative Sentiment: Major shareholder Toby Neugebauer reported selling 5 million shares on Nov. 5, 94,000 shares on Nov. 4, and 2.56 million shares on Nov. 3—about 7.66 million shares in total. Such substantial insider selling may weigh on sentiment, although the filings do not establish the reason for the sales. Read More.
• Negative Sentiment: Coverage says a data-center lease deadline passed, raising investor questions about the lease and its implications for Fermi’s cash-flow outlook. One report linked the missed deadline to a sharp share decline; the supplied articles do not specify definitive lease terms or a resolution. Read More. · Read More.

About Fermi

Fermi, Inc NASDAQ: FRMI is an energy and infrastructure company focused on developing large-scale power and data center facilities for artificial intelligence and other high-performance computing applications. Its business model centers on integrating electricity generation, energy storage and data center infrastructure within a single campus.

The company's principal development is Project Matador, a planned energy and data center campus in the Texas Panhandle. The project is designed to use a mix of power sources, including nuclear energy, natural gas, solar generation and battery storage, with the goal of providing reliable electricity for data center customers.

Fermi's activities are currently concentrated in the United States, particularly Texas.

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