Fermi Target of Unusually High Options Trading (NASDAQ:FRMI)

Fermi Inc. (NASDAQ:FRMI) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 62,033 call options on the stock. This represents an increase of 59% compared to the typical daily volume of 38,911 call options.

Insider Transactions at Fermi

In other news, COO Blanes Jacobo Ortiz sold 427,363 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $4.58, for a total value of $1,957,322.54. Following the completion of the sale, the chief operating officer directly owned 5,469,092 shares of the company’s stock, valued at $25,048,441.36. This represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Miles E. Everson sold 427,004 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $4.58, for a total transaction of $1,955,678.32. Following the transaction, the chief financial officer directly owned 9,969,791 shares of the company’s stock, valued at $45,661,642.78. The trade was a 4.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 13,593,748 shares of company stock valued at $68,803,933.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FRMI. Leonteq Securities AG purchased a new position in shares of Fermi in the 4th quarter worth approximately $30,000. PNC Financial Services Group Inc. purchased a new position in shares of Fermi in the 4th quarter worth approximately $36,000. Aspect Partners LLC purchased a new position in shares of Fermi in the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. acquired a new stake in Fermi in the 4th quarter worth approximately $41,000. Finally, NewEdge Advisors LLC acquired a new stake in Fermi in the 1st quarter worth approximately $54,000.

Fermi Stock Up 23.4%

FRMI traded up $1.32 on Wednesday, reaching $6.94. 41,808,355 shares of the company traded hands, compared to its average volume of 12,286,424. Fermi has a one year low of $4.47 and a one year high of $36.99. The firm has a fifty day simple moving average of $5.75 and a two-hundred day simple moving average of $8.47. The company has a market cap of $4.42 billion and a P/E ratio of -6.08.

Fermi (NASDAQ:FRMI) last posted its earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.25). On average, equities analysts forecast that Fermi will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FRMI. Cantor Fitzgerald began coverage on shares of Fermi in a research note on Thursday, April 9th. They set an “overweight” rating and a $8.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Fermi in a research note on Monday, March 23rd. Evercore cut shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price objective for the company. in a research note on Friday, May 15th. UBS Group cut shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price objective for the company. in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut shares of Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fermi has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

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.