Fermi (NASDAQ:FRMI) Shares Gap Down – Time to Sell?

Fermi Inc. (NASDAQ:FRMI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $14.34, but opened at $13.84. Fermi shares last traded at $13.17, with a volume of 811,672 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FRMI shares. Evercore ISI set a $37.00 price objective on Fermi and gave the company an “outperform” rating in a report on Monday, October 27th. Berenberg Bank initiated coverage on Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $37.00 price target for the company. Mizuho assumed coverage on Fermi in a research note on Monday, October 27th. They set an “outperform” rating and a $27.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fermi in a research note on Wednesday, November 12th. Finally, Macquarie reiterated an “outperform” rating and set a $35.00 target price on shares of Fermi in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $31.56.

Fermi Price Performance

Fermi (NASDAQ:FRMI) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.84) earnings per share (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.