Fermi (NASDAQ:FRMI) Sets New 1-Year Low – Time to Sell?

Shares of Fermi Inc. (NASDAQ:FRMI) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $16.30 and last traded at $18.29, with a volume of 5201033 shares changing hands. The stock had previously closed at $17.50.

Wall Street Analyst Weigh In

FRMI has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fermi in a research report on Wednesday. Macquarie reaffirmed an “outperform” rating and set a $35.00 target price on shares of Fermi in a report on Wednesday. Redburn Partners set a $31.00 price target on shares of Fermi in a report on Monday, October 27th. Zacks Research upgraded shares of Fermi to a “hold” rating in a research note on Tuesday, October 28th. Finally, Berenberg Bank began coverage on shares of Fermi in a report on Monday, October 27th. They issued a “buy” rating and a $37.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Fermi presently has a consensus rating of “Buy” and a consensus price target of $31.56.

Fermi Price Performance

Fermi (NASDAQ:FRMI) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.84) EPS for the quarter.

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.