352,671 Shares in Fermi Inc. $FRMI Acquired by Two Seas Capital LP

Two Seas Capital LP bought a new stake in shares of Fermi Inc. (NASDAQ:FRMI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 352,671 shares of the company’s stock, valued at approximately $3,230,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Money Concepts Capital Corp bought a new stake in shares of Fermi during the 1st quarter valued at $1,147,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Fermi in the 2nd quarter worth $13,334,000. Renaissance Technologies LLC raised its holdings in Fermi by 311.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,403,700 shares of the company’s stock worth $8,198,000 after purchasing an additional 1,062,400 shares during the period. Engle Capital Management L.P. bought a new position in Fermi in the 1st quarter worth $5,928,000. Finally, Cetera Investment Advisers lifted its position in Fermi by 3,262.3% during the first quarter. Cetera Investment Advisers now owns 1,201,098 shares of the company’s stock valued at $7,014,000 after purchasing an additional 1,165,376 shares in the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stifel Nicolaus cut their price target on Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Wall Street Zen downgraded Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. UBS Group downgraded Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price objective for the company. in a research note on Tuesday, May 5th. Evercore cut shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 target price on the stock. in a research note on Friday, May 15th. Finally, Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.67.

Fermi Stock Performance

Shares of FRMI stock opened at $5.92 on Friday. Fermi Inc. has a 52-week low of $4.47 and a 52-week high of $36.99. The firm has a market capitalization of $3.79 billion and a PE ratio of -5.02. The stock has a fifty day simple moving average of $7.14 and a two-hundred day simple moving average of $7.07.

Fermi (NASDAQ:FRMI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. During the same period in the prior year, the firm earned ($0.02) EPS. On average, sell-side analysts forecast that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Insider Activity

In related news, insider Mesut Uzman sold 79,509 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total transaction of $501,701.79. Following the completion of the sale, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Richard Perry sold 863,637 shares of Fermi stock in a transaction that occurred on Tuesday, June 30th. The shares were 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 in the company, valued at $115,701,269.17. This trade represents a 5.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,022,178 shares of company stock valued at $7,313,580 in the last quarter.

Fermi Company 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.