Insider Selling: Fermi (NASDAQ:FRMI) Major Shareholder Sells 1,297,200 Shares of Company Stock

October 16, 2026 by InsiderTrades.com

Key Points

Major shareholder Toby Neugebauer sold 1,297,200 Fermi shares at an average of $3.15, generating approximately $4.1 million. He still directly owns about 43.4 million shares, but the sale reduced his stake by 2.9%.
Fermi shares opened at $3.39, near their 52-week low of $3.00 and well below the 52-week high of $31.47. The company recently beat quarterly EPS expectations, reporting a loss of $0.04 per share versus the estimated $0.06 loss.
AMD’s credit support and Fermi’s AI-cloud leasing activity bolster the company’s data-center growth story, but liquidity, project execution and additional lease financing remain important risks. Analysts maintain a “Moderate Buy” consensus, with an average price target of $20.67.

Fermi Inc. (NASDAQ:FRMI - Get Free Report) major shareholder Toby Neugebauer sold 1,297,200 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $3.15, for a total value of $4,086,180.00. Following the sale, the insider directly owned 43,359,176 shares in the company, valued at approximately $136,581,404.40. This trade represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Fermi Stock Performance

AMD's Support Could Help Fermi Stock Overcome Its Biggest Hurdle

Shares of NASDAQ FRMI opened at $3.39 on Friday. Fermi Inc. has a 52 week low of $3.00 and a 52 week high of $31.47. The stock's fifty day moving average is $5.02 and its 200 day moving average is $5.97.

Fermi (NASDAQ:FRMI - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. During the same period last year, the company posted ($0.02) earnings per share. On average, analysts predict that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fermi

A number of large investors have recently modified their holdings of FRMI. Integrated Wealth Concepts LLC bought a new position in shares of Fermi in the 2nd quarter valued at $41,000. Farther Finance Advisors LLC lifted its position in shares of Fermi by 139.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company's stock worth $44,000 after buying an additional 6,083 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Fermi in the first quarter valued at about $54,000. Resona Asset Management Co. Ltd. acquired a new stake in Fermi in the first quarter valued at about $73,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Fermi in the first quarter valued at about $91,000.

Key Stories Impacting Fermi

Here are the key news stories impacting Fermi this week:

Positive Sentiment: AMD credit support strengthens Project Matador. AMD agreed to provide credit support for Fermi’s 222-megawatt power lease at its Project Matador campus in Amarillo, Texas. The arrangement may improve Fermi’s ability to fund construction and validate demand for its AI data-center capacity. Fermi and AMD sign credit support deal for build-out of Project Matador campus in Amarillo, Texas
Positive Sentiment: AI-cloud leasing activity supports the growth narrative. Fermi disclosed additional details about a major lease with an AI cloud provider, potentially giving investors greater visibility into future data-center revenue. The broader AI infrastructure boom and analyst commentary suggesting the shares may be undervalued are also supporting sentiment. Fermi Inc. Details Major AI Cloud Lease Agreement
Neutral Sentiment: Execution and funding remain key hurdles. Although AMD’s support is constructive, Fermi still faces liquidity concerns and awaits a decision related to a separate TensorWave lease. The company’s ability to convert power capacity and leases into funded, operational data centers will likely determine whether the current valuation holds. AMD's Support Could Help Fermi Stock Overcome Its Biggest Hurdle
Negative Sentiment: Major shareholder selling pressures confidence. Toby R. Neugebauer sold 2.75 million shares for approximately $10.3 million on October 13 and another 1.30 million shares for about $4.1 million on October 14. The transactions reduced his reported positions by roughly 2.9% each and may raise concerns about insider confidence or add selling pressure, despite his continuing large ownership stake. Major Shake-Up at Fermi Inc. as Key Investor Unloads a Massive Stake

Analyst Ratings Changes

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

View Our Latest Analysis on FRMI

Fermi Company Profile

(Get Free Report)

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.