MIdWestOne Financial Group Inc. Takes $4.36 Million Position in Fermi Inc. $FRMI

MIdWestOne Financial Group Inc. acquired a new stake in shares of Fermi Inc. (NASDAQ:FRMI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 545,474 shares of the company’s stock, valued at approximately $4,364,000. MIdWestOne Financial Group Inc. owned about 0.09% of Fermi at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Empire Life Investments Inc. acquired a new position in shares of Fermi during the fourth quarter valued at about $5,611,000. Geode Capital Management LLC acquired a new position in shares of Fermi during the fourth quarter valued at about $5,491,000. BNP Paribas Financial Markets acquired a new position in shares of Fermi during the fourth quarter valued at about $4,723,000. Axxcess Wealth Management LLC acquired a new position in shares of Fermi during the fourth quarter valued at about $604,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Fermi during the fourth quarter valued at about $521,000.

Analyst Ratings Changes

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

Fermi Stock Up 0.9%

FRMI opened at $6.95 on Friday. The stock has a market cap of $4.43 billion and a price-to-earnings ratio of -6.10. Fermi Inc. has a twelve month low of $4.47 and a twelve month high of $36.99. The company’s 50-day moving average price is $5.80 and its two-hundred day moving average price is $8.36.

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

Insider Transactions at Fermi

In other Fermi news, insider Mesut Uzman sold 79,509 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $6.31, for a total value of $501,701.79. Following the transaction, the insider directly owned 670,491 shares in the company, valued at $4,230,798.21. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Blanes Jacobo Ortiz sold 427,363 shares of the business’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,957,322.54. Following the completion of 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,593,748 shares of company stock valued at $68,803,933.

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.