Fermi (NASDAQ:FRMI) Trading 5.7% Higher – Time to Buy?

Fermi Inc. (NASDAQ:FRMI) was up 5.7% during mid-day trading on Wednesday . The company traded as high as $15.10 and last traded at $14.91. Approximately 469,249 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 5,422,424 shares. The stock had previously closed at $14.10.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Mizuho started coverage on shares of Fermi in a research note on Monday, October 27th. They issued an “outperform” rating and a $27.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fermi in a research report on Wednesday, November 12th. Evercore ISI set a $37.00 price objective on Fermi and gave the stock an “outperform” rating in a research report on Monday, October 27th. Rothschild Redb raised Fermi to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Berenberg Bank assumed 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $31.56.

Fermi Price Performance

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

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.