Fermi (NASDAQ:FRMI) Major Shareholder Toby Neugebauer Sells 5,000,000 Shares of Company Stock

Fermi Inc. (NASDAQ:FRMI) major shareholder Toby Neugebauer sold 5,000,000 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $1.52, for a total transaction of $7,600,000.00. Following the sale, the insider directly owned 84,813,010 shares of the company’s stock, valued at $128,915,775.20. This represents a 5.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Fermi Stock Down 15.9%

FRMI opened at $1.53 on Friday. The company has a market cap of $981.13 million and a PE ratio of -1.30. Fermi Inc. has a twelve month low of $1.44 and a twelve month high of $27.07. The company has a 50-day moving average price of $3.95 and a 200 day moving average price of $6.35.

Fermi (NASDAQ:FRMI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. During the same period last year, the firm earned ($0.02) earnings per share. As a group, sell-side analysts expect that Fermi Inc. will post -0.33 earnings per share for the current year.

Trending Headlines about Fermi

Here are the key news stories impacting Fermi this week:

• Neutral Sentiment: Reports clarified that an emergency alert involving the Fermi II nuclear plant in Newport was sent accidentally during a drill; officials said there was no emergency. This concerns the nuclear facility, not Fermi Inc., so it appears to have little direct bearing on FRMI. Read More. · Read More.
• Neutral Sentiment: Fermi held its annual shareholder meeting and board vote on October 30. The available report does not provide details suggesting a material change in the company’s outlook. Read More.
• Negative Sentiment: Major shareholder Toby Neugebauer reported selling 5 million shares on Nov. 5, 94,000 shares on Nov. 4, and 2.56 million shares on Nov. 3—about 7.66 million shares in total. Such substantial insider selling may weigh on sentiment, although the filings do not establish the reason for the sales. Read More.
• Negative Sentiment: Coverage says a data-center lease deadline passed, raising investor questions about the lease and its implications for Fermi’s cash-flow outlook. One report linked the missed deadline to a sharp share decline; the supplied articles do not specify definitive lease terms or a resolution. Read More. · Read More.

Hedge Funds Weigh In On Fermi

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its position in shares of Fermi by 22.5% during the 2nd quarter. NewEdge Advisors LLC now owns 11,431 shares of the company’s stock valued at $105,000 after acquiring an additional 2,101 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Fermi in the second quarter valued at about $41,000. Farther Finance Advisors LLC increased its position in Fermi by 139.1% during the third quarter. Farther Finance Advisors LLC now owns 10,456 shares of the company’s stock worth $44,000 after purchasing an additional 6,083 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in Fermi during the third quarter worth about $42,000. Finally, Financial Management Professionals Inc. acquired a new stake in Fermi during the second quarter worth about $104,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on FRMI shares. Cantor Fitzgerald lowered their price target on Fermi from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Weiss Ratings downgraded Fermi from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Finally, Mizuho reduced their price objective on Fermi from $27.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Fermi currently has an average rating of “Moderate Buy” and an average target price of $16.86.

About Fermi

Fermi, Inc (NASDAQ: FRMI) is an energy and infrastructure company focused on developing large-scale power and data center facilities for artificial intelligence and other high-performance computing applications. Its business model centers on integrating electricity generation, energy storage and data center infrastructure within a single campus.

The company’s principal development is Project Matador, a planned energy and data center campus in the Texas Panhandle. The project is designed to use a mix of power sources, including nuclear energy, natural gas, solar generation and battery storage, with the goal of providing reliable electricity for data center customers.

Fermi’s activities are currently concentrated in the United States, particularly Texas.