Insider Selling: Fermi (NASDAQ:FRMI) Major Shareholder Sells 2,750,000 Shares of Stock

Key Points

• Major shareholder Toby Neugebauer sold 2.75 million Fermi shares for approximately $10.26 million at an average price of $3.73, reducing his ownership by 2.91% to 91.6 million shares.
• Fermi shares traded at $3.39, near the lower end of their $3.00–$31.47 twelve-month range, with a market capitalization of about $2.17 billion. The company reported a quarterly loss of $0.04 per share, better than analysts’ expected loss of $0.06.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $20.67, although several firms have recently cut their targets. Institutional investors, including BlueCrest and Whetstone Capital, have established or increased positions.

Fermi Inc. (NASDAQ:FRMI - Get Free Report) major shareholder Toby Neugebauer sold 2,750,000 shares of the firm's stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $3.73, for a total transaction of $10,257,500.00. Following the completion of the transaction, the insider owned 91,609,659 shares of the company's stock, valued at approximately $341,704,028.07. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Fermi Stock Performance

NASDAQ:FRMI traded up $0.23 during trading hours on Thursday, hitting $3.39. 21,714,987 shares of the company's stock traded hands, compared to its average volume of 15,714,058. Fermi Inc. has a twelve month low of $3.00 and a twelve month high of $31.47. The firm has a market cap of $2.17 billion and a P/E ratio of -2.87. The stock's fifty day moving average price is $5.07 and its two-hundred day moving average price is $5.99.

Fermi (NASDAQ:FRMI - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. During the same quarter last year, the business posted ($0.02) EPS. On average, equities research analysts predict that Fermi Inc. will post -0.33 earnings per share for the current year.

Institutional Trading of Fermi

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in shares of Fermi by 139.1% in the third quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company's stock valued at $44,000 after acquiring an additional 6,083 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Fermi in the 2nd quarter worth about $1,845,000. Tidal Investments LLC raised its stake in Fermi by 348.2% in the 2nd 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 in the last quarter. Whetstone Capital Advisors LLC bought a new stake in Fermi in the 2nd quarter valued at about $12,009,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Fermi in the 2nd quarter valued at about $33,276,000.

Wall Street Analyst Weigh In

Several research analysts have commented on FRMI shares. Weiss Ratings downgraded Fermi from a "sell (d-)" rating to a "sell (e+)" rating in a research 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, Mizuho lowered their price objective 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. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Fermi has a consensus rating of "Moderate Buy" and an average price target of $20.67.

Fermi Company Profile

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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