Fermi (NASDAQ:FRMI) Reaches New 52-Week Low - Should You Sell?

Key Points

• Fermi shares fell to a new 52-week low of $3.76, well below their 50-day and 200-day moving averages of $5.35 and $6.11, respectively.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $20.67, although several firms recently cut their targets substantially.
• Fermi exceeded quarterly EPS expectations with a loss of $0.04 versus the projected loss of $0.06, but analysts still forecast a full-year loss of $0.33 per share; several institutional investors increased or initiated positions.

Shares of Fermi Inc. (NASDAQ:FRMI - Get Free Report) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $3.76 and last traded at $3.7650, with a volume of 2090723 shares. The stock had previously closed at $3.97.

Analysts Set New Price Targets

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

Fermi Stock Performance

The business has a fifty day moving average price of $5.35 and a 200 day moving average price of $6.11. The company has a market capitalization of $2.40 billion and a PE ratio of -3.17.

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, topping analysts' consensus estimates of ($0.06) by $0.02. During the same period in the previous year, the firm posted ($0.02) EPS. Research analysts forecast that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fermi

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new stake in Fermi during the 2nd quarter worth $1,845,000. Tidal Investments LLC raised its position in Fermi by 348.2% in the second quarter. Tidal Investments LLC now owns 173,114 shares of the company's stock valued at $1,586,000 after purchasing an additional 134,486 shares during the period. Whetstone Capital Advisors LLC acquired a new position in shares of Fermi during the second quarter worth about $12,009,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Fermi in the second quarter worth about $33,276,000. Finally, Concorde Asset Management LLC grew its stake in shares of Fermi by 39.0% in the second quarter. Concorde Asset Management LLC now owns 53,650 shares of the company's stock valued at $491,000 after buying an additional 15,040 shares in the last quarter.

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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