Insider Selling: Fermi (NASDAQ:FRMI) Major Shareholder Sells $4,086,180.00 in Stock

Fermi Inc. (NASDAQ:FRMI) major shareholder Toby Neugebauer sold 1,297,200 shares of Fermi stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $3.15, for a total transaction of $4,086,180.00. Following the completion of the transaction, the insider owned 43,359,176 shares of the company’s stock, valued at $136,581,404.40. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Fermi Stock Up 7.3%

Shares of FRMI stock traded up $0.23 on Thursday, reaching $3.39. The company’s stock had a trading volume of 21,714,987 shares, compared to its average volume of 15,714,058. The company has a market capitalization of $2.17 billion and a P/E ratio of -2.87. The stock’s 50 day simple moving average is $5.07 and its 200-day simple moving average is $5.99. Fermi Inc. has a 12-month low of $3.00 and a 12-month high of $31.47.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FRMI. Weiss Ratings downgraded shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Mizuho decreased their price objective on Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Finally, Stifel Nicolaus reduced their target price on shares of Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Institutional Investors Weigh In On Fermi

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Fermi during the 2nd quarter valued at approximately $38,499,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Fermi in the second quarter valued at approximately $33,276,000. Alyeska Investment Group L.P. raised its position in shares of Fermi by 82.4% during the 2nd quarter. Alyeska Investment Group L.P. now owns 2,886,836 shares of the company’s stock valued at $26,443,000 after buying an additional 1,303,979 shares during the period. Ratan Capital Management LP acquired a new stake in shares of Fermi during the 2nd quarter worth about $19,774,000. Finally, Bank of America Corp DE purchased a new stake in shares of Fermi in the 2nd quarter valued at approximately $17,859,000.

About Fermi

Fermi Inc is an energy and infrastructure company focused on developing large-scale power generation and data center facilities. The company is pursuing an integrated model designed to provide reliable electricity for high-demand computing applications, including artificial intelligence and cloud infrastructure.

Its development activities center on the planned Fermi Nuclear Campus in the Texas Panhandle. The project is expected to combine nuclear power with other generation and energy technologies, potentially including natural gas, renewable energy and battery storage, alongside data center infrastructure.