Fermi Inc.’s Quiet Period To Expire on November 10th (NASDAQ:FRMI)

Fermi’s (NASDAQ:FRMI) quiet period will end on Monday, November 10th. Fermi had issued 32,500,000 shares in its initial public offering on October 1st. The total size of the offering was $682,500,000 based on an initial share price of $21.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FRMI shares. Berenberg Bank started coverage on Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $37.00 target price on the stock. Stifel Nicolaus started coverage on Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $29.00 target price on the stock. Evercore ISI set a $37.00 target price on Fermi and gave the stock an “outperform” rating in a research note on Monday, October 27th. Redburn Partners set a $31.00 target price on Fermi in a research note on Monday, October 27th. Finally, UBS Group started coverage on Fermi in a research note on Monday, October 27th. They issued a “buy” rating and a $30.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Fermi presently has an average rating of “Buy” and a consensus target price of $31.56.

Fermi Trading Down 4.8%

Fermi stock opened at $26.62 on Wednesday. Fermi has a fifty-two week low of $18.70 and a fifty-two week high of $36.99.

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.