Fermi Inc. $FRMI Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in shares of Fermi Inc. (NASDAQ:FRMI) by 3,262.3% during the first quarter, Holdings Channel reports. The firm owned 1,201,098 shares of the company’s stock after purchasing an additional 1,165,376 shares during the quarter. Cetera Investment Advisers’ holdings in Fermi were worth $7,014,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Leonteq Securities AG acquired a new position in shares of Fermi in the 4th quarter valued at $30,000. PNC Financial Services Group Inc. acquired a new stake in Fermi during the 4th quarter worth about $36,000. Aspect Partners LLC purchased a new stake in Fermi during the fourth quarter valued at about $38,000. SBI Securities Co. Ltd. purchased a new stake in Fermi during the fourth quarter valued at about $41,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Fermi in the first quarter worth about $73,000.

Fermi Stock Down 15.5%

FRMI stock opened at $5.69 on Friday. Fermi Inc. has a twelve month low of $4.47 and a twelve month high of $36.99. The company has a market cap of $3.63 billion and a PE ratio of -4.99. The business’s 50-day simple moving average is $7.19 and its 200 day simple moving average is $7.42.

Fermi (NASDAQ:FRMI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.25). On average, equities research analysts anticipate that Fermi Inc. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group downgraded shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a research report on Tuesday, May 5th. Evercore downgraded shares of Fermi from an “outperform” rating to an “in-line” rating and set a $11.00 price target for the company. in a research report on Friday, May 15th. Cantor Fitzgerald started coverage on shares of Fermi in a research note on Thursday, April 9th. They issued an “overweight” rating and a $8.00 price objective for the company. Mizuho lowered their price objective on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fermi in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.67.

Insider Buying and Selling

In other news, insider Mesut Uzman sold 79,509 shares of the business’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 sale, the insider directly owned 670,491 shares in the company, valued at approximately $4,230,798.21. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Richard Perry sold 863,637 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.31, for a total transaction of $6,313,186.47. Following the completion of the transaction, the director owned 15,827,807 shares of the company’s stock, valued at approximately $115,701,269.17. This represents a 5.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,022,178 shares of company stock worth $7,313,580.

Fermi 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.