Fermi (NASDAQ:FRMI) Sets New 1-Year Low – Time to Sell?

Fermi Inc. (NASDAQ:FRMI) hit a new 52-week low during trading on Tuesday . The stock traded as low as $7.28 and last traded at $7.52, with a volume of 5415508 shares. The stock had previously closed at $7.62.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FRMI shares. Berenberg Bank assumed coverage on Fermi in a report on Monday, October 27th. They set a “buy” rating and a $37.00 price target for the company. Rothschild Redb upgraded shares of Fermi to a “strong-buy” rating in a research note on Monday, October 27th. Redburn Partners set a $31.00 target price on shares of Fermi in a report on Monday, October 27th. Zacks Research raised shares of Fermi to a “hold” rating in a report on Tuesday, October 28th. Finally, Evercore ISI set a $37.00 price objective on shares of Fermi and gave the stock an “outperform” rating in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.56.

Fermi Stock Down 1.3%

The firm has a fifty day simple moving average of $17.18.

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