Fermi (NASDAQ:FRMI) Shares Gap Up – Time to Buy?

Fermi Inc. (NASDAQ:FRMI)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $3.25, but opened at $3.64. Fermi shares last traded at $3.8650, with a volume of 24,394,423 shares changing hands.

Analyst Upgrades and Downgrades

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

Fermi Price Performance

The company has a market cap of $2.49 billion and a PE ratio of -3.28. The business has a 50-day moving average of $5.19 and a 200 day moving average of $6.03.

Fermi (NASDAQ:FRMI) last announced its 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 previous year, the firm earned ($0.02) earnings per share. On average, equities analysts predict that Fermi Inc. will post -0.33 EPS for the current fiscal year.

Institutional Trading of Fermi

Several large investors have recently added to or reduced their stakes in FRMI. Farther Finance Advisors LLC increased its holdings in Fermi by 139.1% during the third quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company’s stock valued at $44,000 after buying an additional 6,083 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Fermi during the 2nd quarter worth $1,845,000. Tidal Investments LLC boosted its stake in shares of Fermi by 348.2% during the 2nd quarter. Tidal Investments LLC now owns 173,114 shares of the company’s stock worth $1,586,000 after acquiring an additional 134,486 shares during the last quarter. Whetstone Capital Advisors LLC bought a new stake in shares of Fermi during the 2nd quarter valued at $12,009,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Fermi during the 2nd quarter valued at $33,276,000.

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.