Fermi (NASDAQ:FRMI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Fermi (NASDAQ:FRMI) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

A number of other research analysts have also recently weighed in on the stock. Citigroup started coverage on shares of Fermi in a report on Monday, February 9th. They issued an “outperform” rating for the company. Citizens Jmp began coverage on Fermi in a report on Monday, February 9th. They issued a “market outperform” rating and a $30.00 price objective on the stock. Texas Capital upgraded shares of Fermi to a “strong-buy” rating in a research note on Tuesday, January 20th. Weiss Ratings started coverage on Fermi in a research report on Wednesday, December 24th. They set a “sell (e+)” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Fermi in a report on Wednesday, November 12th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $31.44.

Fermi Stock Performance

Shares of FRMI opened at $8.01 on Friday. The stock has a market cap of $4.92 billion and a price-to-earnings ratio of -9.54. The firm has a 50-day moving average of $9.24. Fermi has a 12-month low of $7.18 and a 12-month high of $36.99.

Institutional Trading of Fermi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRMI. Leonteq Securities AG acquired a new stake in Fermi during the fourth quarter worth about $30,000. PNC Financial Services Group Inc. purchased a new stake in shares of Fermi during the fourth quarter worth about $36,000. Aspect Partners LLC acquired a new position in shares of Fermi in the 4th quarter valued at approximately $38,000. SBI Securities Co. Ltd. acquired a new stake in Fermi in the fourth quarter valued at $41,000. Finally, MML Investors Services LLC acquired a new stake in shares of Fermi in the 4th quarter valued at about $81,000.

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. 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.