Hsbc Holdings PLC Makes New $1.06 Million Investment in Fermi Inc. $FRMI

Hsbc Holdings PLC purchased a new position in shares of Fermi Inc. (NASDAQ:FRMI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 130,737 shares of the company’s stock, valued at approximately $1,056,000.

Other large investors also recently modified their holdings of the company. Balyasny Asset Management L.P. bought a new stake in Fermi during the 4th quarter worth $16,549,000. M&G PLC bought a new stake in shares of Fermi during the fourth quarter worth about $14,443,000. Nuveen LLC acquired a new position in shares of Fermi in the fourth quarter valued at approximately $11,067,000. Millennium Management LLC bought a new position in Fermi in the 4th quarter valued at approximately $10,871,000. Finally, Nexpoint Asset Management L.P. bought a new position in Fermi in the 4th quarter valued at approximately $10,412,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Evercore lowered shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 target price on the stock. in a report on Friday, May 15th. Cantor Fitzgerald started coverage on shares of Fermi in a report on Thursday, April 9th. They set an “overweight” rating and a $8.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Fermi in a research note on Thursday, July 2nd. UBS Group downgraded Fermi from a “buy” rating to a “neutral” rating and set a $6.00 price objective for the company. in a report on Tuesday, May 5th. Finally, Stifel Nicolaus cut their target price on Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.44.

Insider Activity

In related news, insider Mesut Uzman sold 79,509 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total transaction of $501,701.79. Following the completion of the sale, the insider owned 670,491 shares of the company’s stock, valued at $4,230,798.21. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Richard Perry sold 863,637 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total value of $6,313,186.47. Following the sale, the director directly owned 15,827,807 shares of the company’s stock, valued at $115,701,269.17. This represents a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,022,178 shares of company stock valued at $7,313,580.

Fermi Stock Down 4.2%

FRMI opened at $6.31 on Tuesday. Fermi Inc. has a twelve month low of $4.47 and a twelve month high of $36.99. The company has a fifty day moving average of $7.04 and a 200-day moving average of $7.60. The stock has a market cap of $4.02 billion and a PE ratio of -5.54.

Fermi (NASDAQ:FRMI) last released its earnings results on Thursday, May 14th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.25). Sell-side analysts anticipate that Fermi Inc. will post 0.34 EPS for the current fiscal year.

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.