Tribune Investment Group LP Acquires New Position in Fermi Inc. $FRMI

Tribune Investment Group LP acquired a new stake in shares of Fermi Inc. (NASDAQ:FRMI) in the 2nd quarter, HoldingsChannel reports. The firm acquired 107,200 shares of the company’s stock, valued at approximately $982,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Fermi in the 2nd quarter valued at $38,499,000. Balyasny Asset Management L.P. bought a new stake in shares of Fermi during the 4th quarter worth $16,549,000. Weiss Asset Management LP lifted its position in shares of Fermi by 431.6% during the 1st quarter. Weiss Asset Management LP now owns 2,415,027 shares of the company’s stock worth $14,104,000 after buying an additional 1,960,764 shares during the last quarter. M&G PLC acquired a new stake in Fermi in the fourth quarter valued at about $14,443,000. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new stake in Fermi in the second quarter valued at about $13,334,000.

Fermi Price Performance

NASDAQ FRMI opened at $5.92 on Monday. 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 $3.79 billion and a price-to-earnings ratio of -5.02. The business’s fifty day moving average is $7.14 and its 200 day moving average is $7.06.

Fermi (NASDAQ:FRMI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. During the same period in the prior year, the business posted ($0.02) EPS. On average, research analysts anticipate that Fermi Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Fermi

In other news, Director James Richard Perry sold 863,637 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.31, for a total transaction of $6,313,186.47. Following the sale, the director directly owned 15,827,807 shares in the company, valued at approximately $115,701,269.17. The trade was a 5.17% 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, insider Mesut Uzman sold 79,509 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $6.31, for a total value of $501,701.79. Following the sale, the insider owned 670,491 shares in the company, valued at approximately $4,230,798.21. This trade represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,022,178 shares of company stock worth $7,313,580 over the last three months.

Analysts Set New Price Targets

A number of research firms have issued reports on FRMI. Stifel Nicolaus decreased their target price on Fermi from $29.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. UBS Group cut shares of Fermi from a “buy” rating to a “neutral” rating and set a $6.00 target price for the company. in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of Fermi from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Mizuho decreased their price target on shares of Fermi from $27.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Finally, Weiss Ratings cut shares of Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

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.