Arrowstreet Capital Limited Partnership Invests $527,000 in Fermi Inc. $FRMI

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Fermi Inc. (NASDAQ:FRMI) in the first quarter, HoldingsChannel.com reports. The fund acquired 90,222 shares of the company’s stock, valued at approximately $527,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leonteq Securities AG purchased a new stake in Fermi during the fourth quarter valued at approximately $30,000. PNC Financial Services Group Inc. purchased a new position in shares of Fermi in the 4th quarter worth approximately $36,000. Aspect Partners LLC purchased a new position in shares of Fermi in the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. bought a new position in shares of Fermi during the 4th quarter valued at approximately $41,000. Finally, MML Investors Services LLC bought a new stake in Fermi in the fourth quarter worth $81,000.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore cut shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective on the stock. in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fermi in a research note on Thursday, July 2nd. Wall Street Zen downgraded shares of Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Stifel Nicolaus cut their target price on Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Finally, Mizuho reduced their price target on Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Two research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Fermi Stock Performance

Shares of NASDAQ:FRMI opened at $6.18 on Friday. The firm’s 50 day simple moving average is $7.15 and its 200-day simple moving average is $7.29. Fermi Inc. has a one year low of $4.47 and a one year high of $36.99. The firm has a market cap of $3.94 billion and a PE ratio of -5.42.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). Equities research analysts predict that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Insider Activity

In other Fermi news, insider Mesut Uzman sold 79,509 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total value of $501,701.79. Following the sale, the insider directly owned 670,491 shares of the company’s stock, valued at approximately $4,230,798.21. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Richard Perry sold 863,637 shares of Fermi stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total value of $6,313,186.47. Following the transaction, the director owned 15,827,807 shares in the company, valued at approximately $115,701,269.17. This represents a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,022,178 shares of company stock valued at $7,313,580.

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.