Fermi Inc. (NASDAQ:FRMI – Get Free Report)’s stock price dropped 4.6% on Wednesday . The stock traded as low as $14.30 and last traded at $14.53. Approximately 663,977 shares changed hands during trading, a decline of 87% from the average daily volume of 5,252,014 shares. The stock had previously closed at $15.23.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on FRMI shares. Stifel Nicolaus initiated coverage on shares of Fermi in a research report on Monday, October 27th. They set a “buy” rating and a $29.00 price target for the company. Mizuho assumed coverage on Fermi in a research report on Monday, October 27th. They issued an “outperform” rating and a $27.00 target price for the company. Redburn Partners set a $31.00 target price on Fermi in a research note on Monday, October 27th. Rothschild & Co Redburn initiated coverage on Fermi in a report on Monday, October 27th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Rothschild Redb raised shares of Fermi to a “strong-buy” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.56.
Read Our Latest Stock Analysis on FRMI
Fermi Stock Down 6.7%
Fermi (NASDAQ:FRMI – Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.84) EPS for the quarter.
About Fermi
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.
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