Wall Street Zen Upgrades Fermi (NASDAQ:FRMI) to “Hold”

Fermi (NASDAQ:FRMI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Several other equities research analysts have also commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Fermi in a research note on Wednesday, November 12th. Macquarie Infrastructure reiterated an “outperform” rating and set a $35.00 price objective on shares of Fermi in a research report on Wednesday, November 12th. Citizens Jmp initiated coverage on Fermi in a research report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 target price on the stock. Texas Capital raised Fermi to a “strong-buy” rating in a research note on Tuesday, January 20th. Finally, Citigroup began coverage on Fermi in a research report on Monday, February 9th. They set an “outperform” rating for the company. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $31.44.

Fermi Stock Performance

Shares of NASDAQ:FRMI opened at $7.98 on Friday. The firm has a 50-day moving average price of $9.25. The company has a market cap of $4.90 billion and a P/E ratio of -9.50. Fermi has a fifty-two week low of $7.18 and a fifty-two week high of $36.99.

Institutional Investors Weigh In On Fermi

A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. bought a new stake in shares of Fermi in the 4th quarter worth approximately $8,284,000. Axxcess Wealth Management LLC bought a new stake in Fermi during the fourth quarter worth approximately $604,000. XTX Topco Ltd bought a new stake in Fermi during the fourth quarter worth approximately $1,149,000. Quadrature Capital Ltd acquired a new position in Fermi in the fourth quarter worth approximately $1,079,000. Finally, Millennium Management LLC bought a new position in shares of Fermi in the fourth quarter valued at $10,871,000.

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.