Fermi (NASDAQ:FRMI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Fermi (NASDAQ:FRMI) from a hold rating to a sell rating in a research note issued to investors on Sunday morning.

A number of other research analysts have also recently commented on FRMI. Weiss Ratings restated a “sell (e+)” rating on shares of Fermi in a report on Monday, March 23rd. Citigroup began coverage on shares of Fermi in a report on Monday, February 9th. They issued an “outperform” rating on the stock. Citizens Jmp began coverage on shares of Fermi in a report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Fermi in a report on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price target on the stock. Finally, Texas Capital upgraded shares of Fermi to a “strong-buy” rating in a report on Tuesday, January 20th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Fermi Stock Performance

NASDAQ FRMI opened at $5.23 on Friday. The company’s 50-day moving average price is $6.72 and its 200-day moving average price is $11.25. The stock has a market cap of $3.33 billion and a PE ratio of -6.23. Fermi has a 12 month low of $4.47 and a 12 month high of $36.99.

Insider Buying and Selling at Fermi

In other Fermi news, insider Charles Lynn Hamilton sold 398,140 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,823,481.20. Following the transaction, the insider directly owned 5,525,910 shares in the company, valued at $25,308,667.80. This represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Blanes Jacobo Ortiz sold 427,363 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $4.58, for a total transaction of $1,957,322.54. Following the transaction, the chief operating officer owned 5,469,092 shares in the company, valued at approximately $25,048,441.36. The trade was a 7.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,435,207 shares of company stock valued at $67,803,539 in the last 90 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Money Concepts Capital Corp bought a new position in Fermi during the 1st quarter worth about $1,147,000. PFG Investments LLC bought a new position in Fermi during the 1st quarter worth about $146,000. Sovereign s Capital Management LLC bought a new position in Fermi during the 4th quarter worth about $2,208,000. SIR Capital Management L.P. bought a new position in Fermi during the 4th quarter worth about $2,255,000. Finally, Polymer Capital Management HK LTD bought a new position in Fermi during the 4th quarter worth about $281,000.

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. 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.