Fermi (NASDAQ:FRMI) Insider Mesut Uzman Sells 79,509 Shares

Fermi Inc. (NASDAQ:FRMI) insider Mesut Uzman sold 79,509 shares of the company’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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mesut Uzman also recently made the following trade(s):

• On Wednesday, June 3rd, Mesut Uzman sold 79,032 shares of Fermi stock. The shares were sold at an average price of $6.31, for a total value of $498,691.92.

Fermi Stock Performance

FRMI stock traded up $0.09 during midday trading on Thursday, reaching $6.18. 8,322,487 shares of the company traded hands, compared to its average volume of 15,607,053. Fermi Inc. has a 52-week low of $4.47 and a 52-week high of $36.99. The business has a 50 day moving average of $5.78 and a 200-day moving average of $8.73. The firm has a market capitalization of $3.94 billion and a price-to-earnings ratio of -5.42.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). Research analysts anticipate that Fermi Inc. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald assumed coverage on Fermi in a report on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price target on the stock. Citigroup assumed coverage on Fermi in a report on Monday, February 9th. They issued an “outperform” rating on the stock. Wall Street Zen downgraded Fermi from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Citizens Jmp assumed coverage on Fermi in a report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 price target on the stock. Finally, Evercore downgraded Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price target on the stock. in a report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.78.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Leonteq Securities AG purchased a new position in Fermi during the 4th quarter worth $30,000. PNC Financial Services Group Inc. purchased a new position in Fermi during the 4th quarter worth $36,000. Aspect Partners LLC purchased a new position in Fermi during the 4th quarter worth $38,000. SBI Securities Co. Ltd. bought a new stake in Fermi during the 4th quarter valued at $41,000. Finally, NewEdge Advisors LLC bought a new stake in Fermi during the 1st quarter valued at $54,000.

Fermi Company 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.