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

Fermi Inc. (NASDAQ:FRMI) reached a new 52-week low on Friday . The stock traded as low as $7.17 and last traded at $7.20, with a volume of 8174419 shares trading hands. The stock had previously closed at $7.87.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Citizens Jmp began coverage on Fermi in a research report on Monday, February 9th. They set a “market outperform” rating and a $30.00 target price on the stock. Texas Capital upgraded Fermi to a “strong-buy” rating in a research report on Tuesday, January 20th. Citigroup started coverage on Fermi in a research note on Monday, February 9th. They set an “outperform” rating for the company. Wall Street Zen raised shares of Fermi from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Weiss Ratings assumed coverage on shares of Fermi in a report on Wednesday, December 24th. They set a “sell (e+)” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $31.44.

Fermi Stock Performance

The stock’s fifty day simple moving average is $9.12. The company has a market cap of $4.42 billion and a PE ratio of -8.57.

Institutional Trading of Fermi

Large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in Fermi during the 4th quarter worth about $1,056,000. Invesco Ltd. purchased a new position in Fermi in the 4th quarter valued at about $8,284,000. Axxcess Wealth Management LLC purchased a new position in Fermi in the 4th quarter valued at about $604,000. XTX Topco Ltd acquired a new stake in shares of Fermi during the 4th quarter worth about $1,149,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Fermi during the 4th quarter worth about $1,079,000.

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.