Fermi (NASDAQ:FRMI) Sets New 12-Month Low – Should You Sell?

Fermi Inc. (NASDAQ:FRMI)’s share price reached a new 52-week low during trading on Thursday. The stock traded as low as $4.14 and last traded at $4.21, with a volume of 16505772 shares. The stock had previously closed at $4.28.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Stifel Nicolaus dropped their price target on Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Weiss Ratings lowered shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Finally, Mizuho decreased their price target on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Fermi has an average rating of “Moderate Buy” and an average target price of $20.67.

Fermi Trading Down 0.5%

The firm has a fifty day moving average of $5.49 and a two-hundred day moving average of $6.20. The company has a market capitalization of $2.58 billion and a PE ratio of -3.42.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. During the same period in the prior year, the company posted ($0.02) earnings per share. On average, equities analysts expect that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Fermi

A number of hedge funds have recently modified their holdings of FRMI. Integrated Wealth Concepts LLC bought a new stake in shares of Fermi in the second quarter worth about $41,000. NewEdge Advisors LLC bought a new position in Fermi during the 1st quarter valued at approximately $54,000. Resona Asset Management Co. Ltd. purchased a new stake in Fermi in the 1st quarter worth approximately $73,000. Janney Montgomery Scott LLC bought a new stake in shares of Fermi in the 1st quarter worth approximately $91,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of Fermi during the second quarter valued at approximately $104,000.

About Fermi

Fermi Inc is an energy and infrastructure company focused on developing large-scale power generation and data center facilities. The company is pursuing an integrated model designed to provide reliable electricity for high-demand computing applications, including artificial intelligence and cloud infrastructure.

Its development activities center on the planned Fermi Nuclear Campus in the Texas Panhandle. The project is expected to combine nuclear power with other generation and energy technologies, potentially including natural gas, renewable energy and battery storage, alongside data center infrastructure.