Value Aligned Research Advisors LLC Invests $12.53 Million in Fermi Inc. $FRMI

Value Aligned Research Advisors LLC acquired a new position in Fermi Inc. (NASDAQ:FRMI) during the 2nd quarter, HoldingsChannel reports. The fund acquired 1,367,995 shares of the company’s stock, valued at approximately $12,531,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in Fermi during the 2nd quarter worth $536,000. Corient Private Wealth LP acquired a new position in Fermi during the 2nd quarter worth about $236,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Fermi in the 2nd quarter valued at about $3,893,000,000. Bank of America Corp DE bought a new stake in shares of Fermi in the 2nd quarter valued at about $17,859,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Fermi in the second quarter valued at about $183,000.

Wall Street Analyst Weigh In

FRMI has been the subject of a number of analyst reports. Weiss Ratings downgraded Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Wall Street Zen cut Fermi from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Stifel Nicolaus decreased their target price on shares of Fermi from $29.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. UBS Group lowered shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price target for the company. in a report on Tuesday, May 5th. Finally, Evercore downgraded 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 equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Fermi Trading Down 2.9%

Shares of NASDAQ:FRMI opened at $5.45 on Friday. Fermi Inc. has a 1-year low of $4.47 and a 1-year high of $36.99. The stock has a market cap of $3.49 billion and a PE ratio of -4.62. The stock’s fifty day simple moving average is $6.93 and its two-hundred day simple moving average is $6.99.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. During the same period in the prior year, the business earned ($0.02) EPS. On average, sell-side analysts forecast that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mesut Uzman sold 79,509 shares of the firm’s stock in a transaction 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 sale, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. This trade represents a 10.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Richard Perry sold 863,637 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total value of $6,313,186.47. Following the sale, the director owned 15,827,807 shares in the company, valued at $115,701,269.17. The trade was a 5.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,022,178 shares of company stock valued at $7,313,580.

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.