Fermi (NASDAQ:FRMI) Hits New 1-Year Low - Here's What Happened

Key Points

• Fermi shares hit a new 52-week low, falling to $4.14 during Thursday trading before last trading at $4.21, with more than 16.5 million shares changing hands.
• Analysts have cut their price targets substantially, though the consensus remains a “Moderate Buy” with an average target of $20.67. Ratings include two Strong Buys, seven Buys, three Holds and one Sell.
• Fermi reported a quarterly loss of $0.04 per share, beating the expected $0.06 loss, while analysts forecast a full-year loss of $0.33 per share. The company is developing large-scale power generation and data-center infrastructure centered on a planned Texas nuclear campus.

Fermi Inc. (NASDAQ:FRMI - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.14 and last traded at $4.21, with a volume of 16505772 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

Several research analysts have commented on the stock. Mizuho lowered their price target on shares of Fermi from $27.00 to $11.00 and set an "outperform" rating for the company in a report on Tuesday, July 28th. Stifel Nicolaus decreased their price objective on shares of Fermi from $29.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of Fermi from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Fermi presently has a consensus rating of "Moderate Buy" and an average price target of $20.67.

Fermi Price Performance

The firm has a 50 day moving average of $5.60 and a two-hundred day moving average of $6.24. The stock has a market cap of $2.70 billion and a PE ratio of -3.57.

Fermi (NASDAQ:FRMI - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same quarter in the previous year, the company posted ($0.02) EPS. As a group, equities analysts anticipate that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Institutional Trading of Fermi

Institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Fermi in the 2nd quarter valued at $41,000. NewEdge Advisors LLC acquired a new stake in Fermi during the 1st quarter worth $54,000. Resona Asset Management Co. Ltd. acquired a new stake in Fermi during the 1st quarter worth $73,000. Janney Montgomery Scott LLC purchased a new position in Fermi during the 1st quarter worth $91,000. Finally, Financial Management Professionals Inc. purchased a new position in Fermi during the 2nd quarter worth $104,000.

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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