Fermi (NASDAQ:FRMI) Reaches New 1-Year Low – Here’s What Happened

Fermi Inc. (NASDAQ:FRMI) shares reached a new 52-week low during trading on Thursday . The company traded as low as $15.91 and last traded at $16.08, with a volume of 2147375 shares trading hands. The stock had previously closed at $16.91.

Analysts Set New Price Targets

Several analysts recently commented on FRMI shares. Stifel Nicolaus started coverage on Fermi in a research note on Monday, October 27th. They set a “buy” rating and a $29.00 price objective on the stock. Redburn Partners set a $31.00 price target on Fermi in a research report on Monday, October 27th. Zacks Research upgraded Fermi to a “hold” rating in a research report on Tuesday, October 28th. Berenberg Bank began coverage on Fermi in a research note on Monday, October 27th. They set a “buy” rating and a $37.00 target price for the company. Finally, Evercore ISI set a $37.00 target price on shares of Fermi and gave the stock an “outperform” rating in a report on Monday, October 27th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $31.56.

Fermi Stock Down 6.9%

Fermi (NASDAQ:FRMI) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.84) earnings per share for the quarter.

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.