Key Points
- Director James Richard Perry sold 863,637 Fermi shares on June 30 at an average price of $7.31, totaling about $6.31 million. The sale reduced his ownership by 5.17%, though he still holds more than 15.8 million shares.
- Fermi shares opened at $8.06 and the company currently has a market cap of $5.14 billion. The stock has traded between a 52-week low of $4.47 and a high of $36.99.
- The company recently reported a quarterly EPS loss of $0.30, missing analyst expectations of a $0.05 loss, while analysts now expect full-year EPS of 0.34. Wall Street’s consensus rating remains Moderate Buy with a target price of $22.44.
Fermi Inc. (NASDAQ:FRMI - Get Free Report) Director James Richard Perry sold 863,637 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total transaction of $6,313,186.47. Following the transaction, the director owned 15,827,807 shares of the company's stock, valued at $115,701,269.17. This trade represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Fermi Stock Performance
Fermi stock opened at $8.06 on Friday. The stock has a market cap of $5.14 billion and a P/E ratio of -7.07. Fermi Inc. has a fifty-two week low of $4.47 and a fifty-two week high of $36.99. The firm's fifty day moving average price is $6.77 and its 200-day moving average price is $7.68.
Fermi (NASDAQ:FRMI - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.25). Sell-side analysts predict that Fermi Inc. will post 0.34 earnings per share for the current year.
Hedge Funds Weigh In On Fermi
A number of large investors have recently modified their holdings of the company. Leonteq Securities AG purchased a new stake in Fermi in the fourth quarter worth approximately $30,000. PNC Financial Services Group Inc. purchased a new position in shares of Fermi during the fourth quarter worth approximately $36,000. Aspect Partners LLC bought a new stake in shares of Fermi in the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. purchased a new stake in shares of Fermi in the 4th quarter valued at $41,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Fermi in the 1st quarter valued at $54,000.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on FRMI shares. Cantor Fitzgerald assumed coverage on shares of Fermi in a research report on Thursday, April 9th. They issued an "overweight" rating and a $8.00 price objective on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Fermi in a research note on Monday, March 23rd. Evercore lowered shares of Fermi from an "outperform" rating to an "in-line" rating and set a $11.00 price target on the stock. in a report on Friday, May 15th. Stifel Nicolaus lowered their price objective on shares of Fermi from $29.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, June 23rd. Finally, UBS Group lowered shares of Fermi from a "buy" rating to a "neutral" rating and set a $6.00 target price for the company. in a research report on Tuesday, May 5th. Two investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Fermi has a consensus rating of "Moderate Buy" and a consensus target price of $22.44.
Check Out Our Latest Stock Report on FRMI
About Fermi
(
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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.
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