Fermi (NASDAQ:FRMI) Hits New 52-Week Low – Time to Sell?

Fermi Inc. (NASDAQ:FRMI)’s share price hit a new 52-week low on Friday . The stock traded as low as $7.17 and last traded at $7.20, with a volume of 8174419 shares. The stock had previously closed at $7.87.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup started coverage on Fermi in a research report on Monday, February 9th. They set an “outperform” rating for the company. Wall Street Zen raised Fermi from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings assumed coverage on Fermi in a research report on Wednesday, December 24th. They set a “sell (e+)” rating for the company. Texas Capital raised Fermi to a “strong-buy” rating in a research note on Tuesday, January 20th. Finally, Citizens Jmp began coverage on shares of Fermi in a research report on Monday, February 9th. They set a “market outperform” rating and a $30.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $31.44.

Fermi Trading Down 8.3%

The stock has a market cap of $4.43 billion and a price-to-earnings ratio of -8.60. The stock’s fifty day simple moving average is $9.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FRMI. Hsbc Holdings PLC bought a new stake in shares of Fermi during the 4th quarter valued at about $1,056,000. Invesco Ltd. bought a new stake in Fermi in the fourth quarter worth approximately $8,284,000. Axxcess Wealth Management LLC acquired a new position in Fermi in the fourth quarter valued at approximately $604,000. XTX Topco Ltd bought a new position in shares of Fermi during the 4th quarter worth approximately $1,149,000. Finally, Quadrature Capital Ltd bought a new position in shares of Fermi during the 4th quarter worth approximately $1,079,000.

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.