Fermi (NASDAQ:FRMI) Major Shareholder Toby Neugebauer Sells 94,000 Shares of Stock

Fermi Inc. (NASDAQ:FRMI) major shareholder Toby Neugebauer sold 94,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $1.99, for a total transaction of $187,060.00. Following the transaction, the insider owned 89,813,010 shares in the company, valued at $178,727,889.90. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Fermi Price Performance

Shares of Fermi stock opened at $1.53 on Friday. The firm has a market cap of $981.13 million and a P/E ratio of -1.30. The firm has a 50 day simple moving average of $3.95 and a 200 day simple moving average of $6.35. Fermi Inc. has a fifty-two week low of $1.44 and a fifty-two week high of $27.07.

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

Hedge Funds Weigh In On Fermi

Hedge funds and other institutional investors have recently bought and sold shares of the business. DBA Trading LLC acquired a new stake in Fermi in the third quarter worth $120,000. Fulcrum Asset Management LLP bought a new position in shares of Fermi during the third quarter worth $410,000. Pictet Asset Management Holding SA bought a new position in shares of Fermi during the third quarter worth $218,000. CenterBook Partners LP grew its holdings in shares of Fermi by 997.7% in the 3rd quarter. CenterBook Partners LP now owns 1,879,838 shares of the company’s stock valued at $7,914,000 after buying an additional 1,708,587 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Fermi in the 3rd quarter valued at $64,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FRMI shares. Mizuho decreased their price target on Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Cantor Fitzgerald dropped their price objective on Fermi from $12.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Finally, Weiss Ratings cut Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fermi has an average rating of “Moderate Buy” and an average price target of $16.86.

Key Headlines Impacting Fermi

Here are the key news stories impacting Fermi this week:

• Neutral Sentiment: Reports clarified that an emergency alert involving the Fermi II nuclear plant in Newport was sent accidentally during a drill; officials said there was no emergency. This concerns the nuclear facility, not Fermi Inc., so it appears to have little direct bearing on FRMI. Read More. · Read More.
• Neutral Sentiment: Fermi held its annual shareholder meeting and board vote on October 30. The available report does not provide details suggesting a material change in the company’s outlook. Read More.
• Negative Sentiment: Major shareholder Toby Neugebauer reported selling 5 million shares on Nov. 5, 94,000 shares on Nov. 4, and 2.56 million shares on Nov. 3—about 7.66 million shares in total. Such substantial insider selling may weigh on sentiment, although the filings do not establish the reason for the sales. Read More.
• Negative Sentiment: Coverage says a data-center lease deadline passed, raising investor questions about the lease and its implications for Fermi’s cash-flow outlook. One report linked the missed deadline to a sharp share decline; the supplied articles do not specify definitive lease terms or a resolution. Read More. · Read More.

Fermi Company Profile

Fermi, Inc (NASDAQ: FRMI) is an energy and infrastructure company focused on developing large-scale power and data center facilities for artificial intelligence and other high-performance computing applications. Its business model centers on integrating electricity generation, energy storage and data center infrastructure within a single campus.

The company’s principal development is Project Matador, a planned energy and data center campus in the Texas Panhandle. The project is designed to use a mix of power sources, including nuclear energy, natural gas, solar generation and battery storage, with the goal of providing reliable electricity for data center customers.

Fermi’s activities are currently concentrated in the United States, particularly Texas.