Texas Capital Bank Wealth Management Services Inc Invests $13.33 Million in Fermi Inc. $FRMI

Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Fermi Inc. (NASDAQ:FRMI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,455,677 shares of the company’s stock, valued at approximately $13,334,000. Fermi makes up approximately 0.7% of Texas Capital Bank Wealth Management Services Inc’s portfolio, making the stock its 21st largest holding.

A number of other institutional investors have also recently bought and sold shares of FRMI. BlackRock Inc. purchased a new position in Fermi in the second quarter valued at about $38,499,000. Weiss Asset Management LP raised its stake in shares of Fermi by 431.6% during the 1st quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock worth $14,104,000 after purchasing an additional 1,960,764 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Fermi during the 4th quarter worth about $16,549,000. M&G PLC acquired a new stake in shares of Fermi during the 4th quarter valued at about $14,443,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Fermi by 311.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,403,700 shares of the company’s stock valued at $8,198,000 after buying an additional 1,062,400 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings downgraded Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. UBS Group cut shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price for the company. in a research note on Tuesday, May 5th. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price target on the stock. in a research note on Friday, May 15th. Wall Street Zen downgraded shares of Fermi from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Stifel Nicolaus reduced their price objective on shares of Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.67.

Fermi Stock Down 4.1%

NASDAQ:FRMI opened at $6.14 on Tuesday. The company’s 50 day moving average is $7.21 and its 200-day moving average is $7.15. Fermi Inc. has a 12 month low of $4.47 and a 12 month high of $36.99. The firm has a market cap of $3.91 billion and a price-to-earnings ratio of -5.39.

Fermi (NASDAQ:FRMI) last posted 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 quarter in the prior year, the company earned ($0.02) EPS. Research analysts predict that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James Richard Perry sold 863,637 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 15,827,807 shares of the company’s stock, valued at approximately $115,701,269.17. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mesut Uzman sold 79,509 shares of Fermi stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total value of $501,701.79. Following the completion of the transaction, the insider owned 670,491 shares in the company, valued at $4,230,798.21. The trade was a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,022,178 shares of company stock valued at $7,313,580.

Fermi Profile

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.