Fermi (NASDAQ:FRMI) Stock Price Down 5.3% - Here's Why

Key Points

• Fermi shares fell 5.3% to about $3.47 in Friday trading, with volume below the stock’s average session volume. The stock is trading below its 50-day and 200-day moving averages.
• Analysts have sharply reduced their price targets, though the consensus remains a “Moderate Buy” with a $20.67 target price. Recent targets include Mizuho at $11 and Stifel at $17.
• Fermi reported a quarterly loss of $0.04 per share, beating estimates for a $0.06 loss, while analysts expect a full-year loss of $0.33 per share. Several institutional investors recently increased or initiated positions in the company.

Fermi Inc. (NASDAQ:FRMI - Get Free Report)'s stock price dropped 5.3% on Friday. The stock traded as low as $3.46 and last traded at $3.4650. 6,747,449 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 15,205,410 shares. The stock had previously closed at $3.66.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho decreased their price objective on shares of Fermi from $27.00 to $11.00 and set an "outperform" rating for the company in a research note on Tuesday, July 28th. Stifel Nicolaus lowered their price target on shares of Fermi from $29.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, June 23rd. Finally, Weiss Ratings cut 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 assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.67.

Fermi Trading Down 5.3%

The stock has a 50 day simple moving average of $5.29 and a 200 day simple moving average of $6.08. The firm has a market capitalization of $2.22 billion and a PE ratio of -2.94.

Fermi (NASDAQ:FRMI - Get Free Report) last announced its quarterly 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 period in the previous year, the company posted ($0.02) EPS. As a group, equities analysts anticipate that Fermi Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Fermi

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in shares of Fermi by 139.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company's stock valued at $44,000 after buying an additional 6,083 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Fermi during the second quarter valued at about $1,845,000. Tidal Investments LLC boosted 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 during the period. Whetstone Capital Advisors LLC purchased a new stake in Fermi in the 2nd quarter worth $12,009,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Fermi during the 2nd quarter worth approximately $33,276,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.