Brokerages Set Fermi Inc. (NASDAQ:FRMI) Price Target at $23.78

Shares of Fermi Inc. (NASDAQ:FRMI) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $23.7778.

A number of equities analysts recently issued reports on FRMI shares. UBS Group lowered Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price for the company. in a research note on Tuesday, May 5th. Evercore lowered Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 target price for the company. in a research note on Friday, May 15th. Wall Street Zen lowered Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Fermi in a research note on Monday, March 23rd. Finally, Cantor Fitzgerald started coverage on Fermi in a research note on Thursday, April 9th. They issued an “overweight” rating and a $8.00 target price for the company.

Fermi Price Performance

Shares of FRMI stock opened at $7.14 on Tuesday. The firm has a market capitalization of $4.55 billion and a price-to-earnings ratio of -6.26. The business has a fifty day moving average of $5.83 and a 200 day moving average of $8.35. Fermi has a 1 year low of $4.47 and a 1 year high of $36.99.

Fermi (NASDAQ:FRMI) last issued its earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). As a group, equities research analysts expect that Fermi will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other Fermi news, insider Charles Lynn Hamilton sold 398,140 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $4.58, for a total transaction of $1,823,481.20. Following the sale, the insider directly owned 5,525,910 shares of the company’s stock, valued at approximately $25,308,667.80. This trade represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Blanes Jacobo Ortiz sold 427,363 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $4.58, for a total value of $1,957,322.54. Following the sale, the chief operating officer directly owned 5,469,092 shares in the company, valued at $25,048,441.36. This represents a 7.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,593,748 shares of company stock worth $68,803,933 over the last three months.

Institutional Investors Weigh In On Fermi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG acquired a new stake in Fermi during the 4th quarter worth about $30,000. PNC Financial Services Group Inc. acquired a new stake in Fermi during the 4th quarter worth about $36,000. Aspect Partners LLC acquired a new stake in Fermi during the 4th quarter worth about $38,000. SBI Securities Co. Ltd. acquired a new stake in Fermi during the 4th quarter worth about $41,000. Finally, NewEdge Advisors LLC acquired a new stake in Fermi during the 1st quarter worth about $54,000.

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.