Fermi (NASDAQ:FRMI) Trading Down 4.7% – Should You Sell?

Fermi Inc. (NASDAQ:FRMI) was down 4.7% during trading on Tuesday . The stock traded as low as $8.31 and last traded at $8.46. Approximately 1,008,064 shares changed hands during trading, a decline of 84% from the average daily volume of 6,416,298 shares. The stock had previously closed at $8.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FRMI shares. Redburn Partners set a $31.00 target price on shares of Fermi in a research note on Monday, October 27th. Zacks Research upgraded shares of Fermi to a “hold” rating in a research report on Tuesday, October 28th. Stifel Nicolaus began coverage on shares of Fermi in a report on Monday, October 27th. They set a “buy” rating and a $29.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Fermi in a research report on Wednesday, November 12th. Finally, UBS Group assumed coverage on Fermi in a research report on Monday, October 27th. They set a “buy” rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $31.56.

Fermi Stock Performance

The stock’s 50-day moving average is $19.20.

Fermi (NASDAQ:FRMI) last announced its quarterly earnings data 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. We have entered into a long-term lease on a site large enough to simultaneously house the next three largest data center campuses by square footage currently in existence.