Fermi Inc. (NASDAQ:FRMI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Fermi Inc. (NASDAQ:FRMI) has received an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $20.6667.

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Stifel Nicolaus lowered their target price on Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Finally, Mizuho dropped their target price on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th.

Insider Transactions at Fermi

In other Fermi news, Director James Perry sold 863,637 shares of Fermi stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total transaction of $6,313,186.47. Following the completion of the sale, the director owned 15,827,807 shares of the company’s stock, valued at $115,701,269.17. This trade represents a 5.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Fermi during the second quarter valued at about $38,499,000. BlueCrest Capital Management Ltd acquired a new stake in Fermi during the second quarter worth about $33,276,000. Alyeska Investment Group L.P. raised its stake in shares of Fermi by 82.4% in the second quarter. Alyeska Investment Group L.P. now owns 2,886,836 shares of the company’s stock valued at $26,443,000 after purchasing an additional 1,303,979 shares in the last quarter. Weiss Asset Management LP increased its holdings in shares of Fermi by 431.6% during the first quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock worth $14,104,000 after buying an additional 1,960,764 shares in the last quarter. Finally, Ratan Capital Management LP bought a new stake in Fermi during the 2nd quarter worth approximately $19,774,000.

Fermi Stock Up 1.6%

FRMI opened at $5.06 on Thursday. The firm’s 50 day moving average is $5.85 and its 200-day moving average is $6.43. The firm has a market capitalization of $3.24 billion and a P/E ratio of -4.29. Fermi has a 52-week low of $4.47 and a 52-week high of $36.99.

Fermi (NASDAQ:FRMI) last announced its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. During the same period in the previous year, the business earned ($0.02) EPS. Equities analysts expect that Fermi will post -0.33 earnings per share for the current fiscal year.

Fermi Company Profile

Fermi Inc is an energy and digital infrastructure company developing large-scale power-generation and data-center facilities to support energy-intensive computing, including artificial intelligence applications. Its business focuses on integrating electricity generation, transmission infrastructure and data-center capacity within dedicated campuses.

The company’s primary development effort is the Fermi America project near Amarillo, Texas, also referred to as Project Matador. The planned campus is intended to use a diversified energy portfolio that may include natural gas, nuclear power, solar generation and battery storage, with the goal of providing reliable electricity for data centers and other high-demand technology users.

Fermi’s operations are currently centered on the United States, particularly Texas.