Key Points
- Major shareholder Toby Neugebauer sold 2,563,800 Fermi shares on November 3 at an average price of $2.04, totaling about $5.23 million. He retained 42.1 million shares after the sale; the article also notes additional reported sales in the following days.
- Fermi shares were reported down 15.9% and opened at $1.53, near their 12-month low of $1.44. Investor concerns cited in the article include a passed data-center lease deadline and uncertainty about its cash-flow implications.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $16.86, though recent target cuts included Mizuho lowering its target to $11 and Cantor Fitzgerald to $8.
Fermi Inc. (NASDAQ:FRMI - Get Free Report) major shareholder Toby Neugebauer sold 94,000 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $1.99, for a total value of $187,060.00. Following the completion of the sale, the insider owned 89,813,010 shares of the company's stock, valued at $178,727,889.90. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Fermi Price Performance
NASDAQ FRMI opened at $1.53 on Friday. Fermi Inc. has a one year low of $1.44 and a one year high of $27.07. The firm has a market cap of $981.13 million and a P/E ratio of -1.30. The stock's 50-day moving average is $3.95 and its 200-day moving average is $6.35.
Fermi (NASDAQ:FRMI - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. During the same period last year, the business earned ($0.02) earnings per share. Equities analysts anticipate that Fermi Inc. will post -0.33 EPS for the current year.
Analysts Set New Price Targets
FRMI has been the topic of a number of research reports. Weiss Ratings lowered shares of Fermi from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, August 14th. Mizuho reduced their target price 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. Finally, Cantor Fitzgerald cut their price objective on shares of Fermi from $12.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.86.
Check Out Our Latest Analysis on FRMI
Hedge Funds Weigh In On Fermi
Several hedge funds have recently modified their holdings of FRMI. BlackRock Inc. acquired a new stake in shares of Fermi in the second quarter valued at about $38,499,000. Value Aligned Research Advisors LLC acquired a new position in Fermi during the second quarter valued at approximately $12,531,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in Fermi during the second quarter valued at approximately $3,893,000. Alyeska Investment Group L.P. grew its stake in Fermi by 82.4% in the second quarter. Alyeska Investment Group L.P. now owns 2,886,836 shares of the company's stock valued at $26,443,000 after purchasing an additional 1,303,979 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Fermi in the second quarter valued at approximately $1,845,000.
Trending Headlines about Fermi
Here are the key news stories impacting Fermi this week:
- Neutral Sentiment: Reports clarified that an emergency alert involving the Fermi II nuclear plant in Newport was sent accidentally during a drill; officials said there was no emergency. This concerns the nuclear facility, not Fermi Inc., so it appears to have little direct bearing on FRMI. Read More. · Read More.
- Neutral Sentiment: Fermi held its annual shareholder meeting and board vote on October 30. The available report does not provide details suggesting a material change in the company’s outlook. Read More.
- Negative Sentiment: Major shareholder Toby Neugebauer reported selling 5 million shares on Nov. 5, 94,000 shares on Nov. 4, and 2.56 million shares on Nov. 3—about 7.66 million shares in total. Such substantial insider selling may weigh on sentiment, although the filings do not establish the reason for the sales. Read More.
- Negative Sentiment: Coverage says a data-center lease deadline passed, raising investor questions about the lease and its implications for Fermi’s cash-flow outlook. One report linked the missed deadline to a sharp share decline; the supplied articles do not specify definitive lease terms or a resolution. Read More. · Read More.
Fermi Company Profile
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Get Free Report)
Fermi, Inc (NASDAQ: FRMI) is an energy and infrastructure company focused on developing large-scale power and data center facilities for artificial intelligence and other high-performance computing applications. Its business model centers on integrating electricity generation, energy storage and data center infrastructure within a single campus.
The company's principal development is Project Matador, a planned energy and data center campus in the Texas Panhandle. The project is designed to use a mix of power sources, including nuclear energy, natural gas, solar generation and battery storage, with the goal of providing reliable electricity for data center customers.
Fermi's activities are currently concentrated in the United States, particularly Texas.
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