GSA Capital Partners LLP Buys New Shares in Fermi Inc. $FRMI

GSA Capital Partners LLP bought a new position in shares of Fermi Inc. (NASDAQ:FRMI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 105,748 shares of the company’s stock, valued at approximately $969,000.

A number of other hedge funds also recently bought and sold shares of the stock. Balyasny Asset Management L.P. acquired a new stake in Fermi in the 4th quarter valued at about $16,549,000. Weiss Asset Management LP increased its stake 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 during the period. M&G PLC purchased a new stake in shares of Fermi during the fourth quarter worth approximately $14,443,000. Nuveen LLC acquired a new stake in Fermi in the fourth quarter valued at approximately $11,067,000. Finally, Millennium Management LLC purchased a new position in Fermi in the fourth quarter worth approximately $10,871,000.

Fermi Trading Down 6.5%

FRMI stock opened at $5.74 on Wednesday. Fermi Inc. has a twelve month low of $4.47 and a twelve month high of $36.99. The company’s 50 day moving average is $7.21 and its two-hundred day moving average is $7.12. The stock has a market cap of $3.66 billion and a P/E ratio of -4.86.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same quarter in the previous year, the company posted ($0.02) EPS. On average, equities research analysts predict that Fermi Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Evercore downgraded shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective on the stock. in a research report on Friday, May 15th. Mizuho decreased their price objective on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. UBS Group downgraded shares of 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. Weiss Ratings cut Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Finally, Wall Street Zen cut Fermi from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Insiders Place Their Bets

In other news, insider Mesut Uzman sold 79,509 shares of Fermi stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total transaction of $501,701.79. Following the sale, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Richard Perry sold 863,637 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total value of $6,313,186.47. Following the completion of the sale, the director directly owned 15,827,807 shares of the company’s stock, valued at $115,701,269.17. The trade was a 5.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,022,178 shares of company stock valued at $7,313,580.

Fermi 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.