Engle Capital Management L.P. Takes $5.93 Million Position in Fermi Inc. $FRMI

Engle Capital Management L.P. acquired a new position in Fermi Inc. (NASDAQ:FRMI) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,015,000 shares of the company’s stock, valued at approximately $5,928,000. Fermi comprises 2.0% of Engle Capital Management L.P.’s holdings, making the stock its 17th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in Fermi during the 4th quarter valued at approximately $151,000. Nisa Investment Advisors LLC bought a new position in Fermi in the 4th quarter worth approximately $423,000. Prime Capital Investment Advisors LLC purchased a new stake in Fermi during the 4th quarter valued at approximately $84,000. Choreo LLC purchased a new stake in Fermi during the 4th quarter valued at approximately $98,000. Finally, Aspect Partners LLC bought a new stake in shares of Fermi during the fourth quarter valued at approximately $38,000.

Fermi Trading Down 2.3%

Shares of NASDAQ FRMI opened at $7.23 on Tuesday. The firm’s 50-day moving average price is $7.18 and its 200-day moving average price is $7.49. The stock has a market capitalization of $4.61 billion and a price-to-earnings ratio of -6.34. Fermi Inc. has a 12-month low of $4.47 and a 12-month high of $36.99.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). On average, equities analysts predict that Fermi Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FRMI shares. UBS Group downgraded shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a report on Tuesday, May 5th. Stifel Nicolaus cut their target price on shares of Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Cantor Fitzgerald initiated 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fermi in a report on Thursday, July 2nd. Finally, Wall Street Zen cut 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 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 has a consensus rating of “Moderate Buy” and a consensus target price of $22.44.

Insider Buying and Selling

In other Fermi news, Director James Richard Perry sold 863,637 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total transaction of $6,313,186.47. Following the sale, the director directly owned 15,827,807 shares in the company, valued at $115,701,269.17. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mesut Uzman sold 79,509 shares of the firm’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 value of $501,701.79. Following the completion of the sale, the insider directly owned 670,491 shares of the company’s stock, valued at $4,230,798.21. The trade was a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,022,178 shares of company stock worth $7,313,580.

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.