Investors Buy Large Volume of Fermi Call Options (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) saw unusually large options trading on Friday. Stock traders bought 23,805 call options on the stock. This represents an increase of 34% compared to the average volume of 17,765 call options.

Fermi Trading Down 5.1%

FRMI traded down $0.40 on Friday, hitting $7.47. 2,733,532 shares of the company were exchanged, compared to its average volume of 6,985,695. The business has a 50-day moving average price of $9.16. Fermi has a twelve month low of $7.18 and a twelve month high of $36.99. The stock has a market capitalization of $4.58 billion and a P/E ratio of -8.86.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Texas Capital upgraded shares of Fermi to a “strong-buy” rating in a research note on Tuesday, January 20th. Citizens Jmp began coverage on Fermi in a research report on Monday, February 9th. They set a “market outperform” rating and a $30.00 price target on the stock. Weiss Ratings assumed coverage on shares of Fermi in a report on Wednesday, December 24th. They set a “sell (e+)” rating on the stock. Citigroup initiated coverage on Fermi in a research report on Monday, February 9th. They set an “outperform” rating for the company. Finally, Wall Street Zen upgraded shares of Fermi from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $31.44.

Institutional Investors Weigh In On Fermi

Institutional investors and hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC acquired a new position in Fermi during the 4th quarter worth approximately $151,000. Nisa Investment Advisors LLC purchased a new position in Fermi in the fourth quarter worth $423,000. Prime Capital Investment Advisors LLC acquired a new stake in Fermi in the fourth quarter valued at $84,000. Choreo LLC purchased a new stake in shares of Fermi during the 4th quarter worth $98,000. Finally, Aspect Partners LLC purchased a new stake in shares of Fermi during the 4th quarter worth $38,000.

About Fermi

Fermi’s mission is to power the artificial intelligence (“AI”) needs of tomorrow. We are an advanced energy and hyperscaler development company purpose-built for the AI era. Our mission is to deliver up to 11 gigawatts (“GW”) of low-carbon, HyperRedundant™, and on-demand power directly to the world’s most compute-intensive businesses with 1.1 GW of power projected to be online by the end of 2026. We have entered into a long-term lease on a site large enough to simultaneously house the next three largest data center campuses by square footage currently in existence.