Fermi (NASDAQ:FRMI) Reaches New 1-Year Low – What’s Next?

Fermi Inc. (NASDAQ:FRMI)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $8.18 and last traded at $8.22, with a volume of 8640499 shares changing hands. The stock had previously closed at $9.06.

Analysts Set New Price Targets

Several equities analysts have issued reports on FRMI shares. Mizuho initiated coverage on Fermi in a research report on Monday, October 27th. They set an “outperform” rating and a $27.00 target price on the stock. Rothschild Redb raised Fermi to a “strong-buy” rating in a report on Monday, October 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fermi in a research report on Wednesday, November 12th. Stifel Nicolaus started coverage on shares of Fermi in a research report on Monday, October 27th. They set a “buy” rating and a $29.00 target price on the stock. Finally, Rothschild & Co Redburn initiated coverage on shares of Fermi in a research note on Monday, October 27th. They set a “buy” rating and a $31.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $31.56.

Fermi Stock Performance

The stock has a 50-day moving average of $20.40.

Fermi (NASDAQ:FRMI) last released its earnings results on Monday, November 10th. The company reported ($0.84) earnings per share for the quarter.

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.