Cantor Fitzgerald Has Lowered Expectations for Fermi (NASDAQ:FRMI) Stock Price

Fermi (NASDAQ:FRMI) had its price target decreased by investment analysts at Cantor Fitzgerald from $12.00 to $8.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 135.99% from the company’s previous close.

Several other research analysts have also commented on FRMI. Mizuho dropped their price objective on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Stifel Nicolaus reduced their target price on shares of Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fermi has an average rating of “Moderate Buy” and an average target price of $20.67.

Fermi Stock Performance

NASDAQ FRMI opened at $3.39 on Friday. The company has a market cap of $2.17 billion and a P/E ratio of -2.87. The business’s 50 day moving average price is $5.02 and its 200-day moving average price is $5.97. Fermi has a fifty-two week low of $3.00 and a fifty-two week high of $31.47.

Fermi (NASDAQ:FRMI) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. During the same period in the previous year, the business posted ($0.02) EPS. As a group, equities analysts predict that Fermi will post -0.33 EPS for the current year.

Insider Activity at Fermi

In other news, major shareholder Toby R. Neugebauer sold 2,750,000 shares of the stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $3.73, for a total value of $10,257,500.00. Following the sale, the insider directly owned 91,609,659 shares in the company, valued at approximately $341,704,028.07. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.83% of the company’s stock.

Institutional Investors Weigh In On Fermi

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in Fermi by 139.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company’s stock valued at $44,000 after acquiring an additional 6,083 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Fermi in the second quarter worth $1,845,000. Tidal Investments LLC lifted its position in shares of Fermi by 348.2% during the second quarter. Tidal Investments LLC now owns 173,114 shares of the company’s stock worth $1,586,000 after purchasing an additional 134,486 shares during the last quarter. Whetstone Capital Advisors LLC bought a new stake in shares of Fermi during the second quarter worth $12,009,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Fermi during the second quarter worth $33,276,000.

About Fermi

Fermi Inc is an energy and infrastructure company focused on developing large-scale power generation and data center facilities. The company is pursuing an integrated model designed to provide reliable electricity for high-demand computing applications, including artificial intelligence and cloud infrastructure.

Its development activities center on the planned Fermi Nuclear Campus in the Texas Panhandle. The project is expected to combine nuclear power with other generation and energy technologies, potentially including natural gas, renewable energy and battery storage, alongside data center infrastructure.