Fermi Inc.’s Quiet Period Will Expire Tomorrow (NASDAQ:FRMI)

Fermi’s (NASDAQ:FRMI) quiet period will expire on Monday, November 10th. Fermi had issued 32,500,000 shares in its initial public offering on October 1st. The total size of the offering was $682,500,000 based on an initial share price of $21.00. During Fermi’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FRMI. Stifel Nicolaus began coverage on shares of Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $29.00 price target on the stock. UBS Group initiated coverage on Fermi in a research note on Monday, October 27th. They set a “buy” rating and a $30.00 price target for the company. Macquarie began coverage on Fermi in a report on Monday, October 27th. They set an “outperform” rating and a $35.00 price target for the company. Zacks Research raised Fermi to a “hold” rating in a report on Tuesday, October 28th. Finally, Berenberg Bank started coverage on Fermi in a research report on Monday, October 27th. They set a “buy” rating and a $37.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Fermi presently has an average rating of “Buy” and a consensus target price of $31.56.

Fermi Price Performance

Shares of FRMI stock opened at $24.35 on Friday. Fermi has a 1 year low of $18.70 and a 1 year high of $36.99.

Fermi Company 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.