Sovereign s Capital Management LLC Makes New $2.21 Million Investment in Fermi Inc. $FRMI

Sovereign s Capital Management LLC bought a new position in shares of Fermi Inc. (NASDAQ:FRMI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 275,958 shares of the company’s stock, valued at approximately $2,208,000. Fermi accounts for about 1.3% of Sovereign s Capital Management LLC’s holdings, making the stock its 29th biggest holding.

Several other hedge funds also recently bought and sold shares of the stock. MML Investors Services LLC purchased a new position in Fermi during the fourth quarter worth about $81,000. Barclays PLC purchased a new position in Fermi during the fourth quarter worth about $556,000. Marshall Wace LLP purchased a new position in Fermi during the fourth quarter worth about $3,290,000. The Manufacturers Life Insurance Company purchased a new position in shares of Fermi in the fourth quarter valued at approximately $3,670,000. Finally, Quinn Opportunity Partners LLC purchased a new position in shares of Fermi in the fourth quarter valued at approximately $115,000.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FRMI. Cantor Fitzgerald began coverage on shares of Fermi in a research note on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Fermi in a research note on Monday, March 23rd. 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. 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. Finally, Wall Street Zen lowered shares of Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Two 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 given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

Insider Transactions at Fermi

In related news, COO Blanes Jacobo Ortiz sold 427,363 shares of the firm’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 value of $1,957,322.54. Following the sale, the chief operating officer owned 5,469,092 shares of the company’s stock, valued at $25,048,441.36. This trade represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Miles E. Everson sold 427,004 shares of the firm’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 $1,955,678.32. Following the completion of the sale, the chief financial officer directly owned 9,969,791 shares in the company, valued at approximately $45,661,642.78. This trade represents a 4.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,593,748 shares of company stock valued at $68,803,933 over the last quarter.

Fermi Stock Performance

NASDAQ FRMI opened at $7.88 on Wednesday. The firm has a 50 day simple moving average of $5.93 and a 200-day simple moving average of $8.21. Fermi Inc. has a one year low of $4.47 and a one year high of $36.99. The firm has a market cap of $5.02 billion and a price-to-earnings ratio of -6.91.

Fermi (NASDAQ:FRMI) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.25). Equities analysts predict that Fermi Inc. will post 0.4 EPS for the current fiscal year.

Fermi 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.