Stock Traders Purchase High Volume of Put Options on Fermi (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) saw unusually large options trading activity on Monday. Stock traders purchased 59,668 put options on the company. This represents an increase of 46% compared to the average volume of 40,900 put options.

Analyst Ratings Changes

Several research firms recently issued reports on FRMI. UBS Group cut shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price target on the stock. in a report on Tuesday, May 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fermi in a report on Monday, March 23rd. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective for the company. in a research note on Friday, May 15th. Wall Street Zen downgraded Fermi from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Cantor Fitzgerald started coverage on Fermi in a report on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.78.

Insider Buying and Selling

In other news, insider Mesut Uzman sold 79,509 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $6.31, for a total value of $501,701.79. Following the completion of the sale, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. This trade represents a 10.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Griffin Perry sold 2,000,000 shares of Fermi stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $5.54, for a total transaction of $11,080,000.00. Following the transaction, the insider owned 60,946,450 shares of the company’s stock, valued at approximately $337,643,333. The trade was a 3.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,593,748 shares of company stock worth $68,803,933.

Institutional Investors Weigh In On Fermi

Institutional investors and hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG acquired a new stake in Fermi during the fourth quarter worth approximately $30,000. PNC Financial Services Group Inc. purchased a new position in shares of Fermi in the fourth quarter valued at $36,000. Aspect Partners LLC purchased a new position in Fermi during the fourth quarter worth about $38,000. SBI Securities Co. Ltd. bought a new stake in Fermi during the fourth quarter worth about $41,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Fermi in the 1st quarter valued at about $54,000.

Fermi Price Performance

Shares of Fermi stock traded up $0.31 during trading on Monday, hitting $7.45. 16,641,754 shares of the company were exchanged, compared to its average volume of 12,633,746. The firm’s fifty day moving average price is $5.83 and its 200 day moving average price is $8.31. Fermi has a 1-year low of $4.47 and a 1-year high of $36.99. The firm has a market capitalization of $4.75 billion and a P/E ratio of -6.51.

Fermi (NASDAQ:FRMI) last released its earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.25). As a group, equities research analysts anticipate that Fermi will post 0.4 earnings per share for the current year.

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. We have entered into a long-term lease on a site large enough to simultaneously house the next three largest data center campuses by square footage currently in existence.