Fermi (NASDAQ:FRMI) Shares Down 4.3% – Should You Sell?

Fermi Inc. (NASDAQ:FRMI) was down 4.3% during trading on Thursday . The stock traded as low as $6.48 and last traded at $6.5960. Approximately 5,080,176 shares were traded during trading, a decline of 59% from the average daily volume of 12,366,361 shares. The stock had previously closed at $6.89.

Analyst Ratings Changes

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

Fermi Stock Performance

The firm has a market cap of $4.30 billion and a price-to-earnings ratio of -5.98. The stock’s 50 day simple moving average is $5.78 and its 200-day simple moving average is $8.41.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). On average, analysts expect that Fermi Inc. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling at Fermi

In other Fermi news, COO Blanes Jacobo Ortiz sold 427,363 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were 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. This represents a 7.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mesut Uzman sold 79,509 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $6.31, for a total transaction of $501,701.79. Following the transaction, the insider owned 670,491 shares in the company, valued at $4,230,798.21. The trade was a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,593,748 shares of company stock worth $68,803,933 in the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG acquired a new stake in shares of Fermi in the fourth quarter worth $30,000. PNC Financial Services Group Inc. purchased a new position in Fermi during the fourth quarter valued at $36,000. Aspect Partners LLC purchased a new position in Fermi during the fourth quarter valued at $38,000. SBI Securities Co. Ltd. purchased a new position in Fermi during the fourth quarter valued at $41,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Fermi in the first quarter worth about $54,000.

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.