Insider Selling: Fermi (NASDAQ:FRMI) Major Shareholder Sells $187,060.00 in Stock

Fermi Inc. (NASDAQ:FRMI) major shareholder Toby Neugebauer sold 94,000 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $1.99, for a total value of $187,060.00. Following the completion of the sale, the insider owned 89,813,010 shares in the company, valued at $178,727,889.90. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Fermi Stock Performance

NASDAQ FRMI traded down $0.29 during trading on Thursday, hitting $1.53. 41,416,841 shares of the stock traded hands, compared to its average volume of 25,128,548. Fermi Inc. has a 12-month low of $1.44 and a 12-month high of $27.07. The firm has a 50-day simple moving average of $3.95 and a 200-day simple moving average of $6.35.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same period in the previous year, the firm earned ($0.02) EPS. On average, research analysts predict that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FRMI shares. Cantor Fitzgerald decreased their price target on shares of Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Mizuho lowered their price objective on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.86.

Key Headlines Impacting Fermi

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.

Institutional Investors Weigh In On Fermi

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

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.