Fermi (NASDAQ:FRMI) Reaches New 1-Year Low - Here's Why

Fermi Inc. (NASDAQ:FRMI - Get Free Report)'s share price hit a new 52-week low on Friday . The stock traded as low as $16.30 and last traded at $18.29, with a volume of 5201033 shares. The stock had previously closed at $17.50.Analysts Set New Price TargetsSeveral research analysts recently issued reports on FRMI shares. Rothschild & Co Redburn assumed coverage on Fermi in a research report on Monday, October 27th. They set a "buy" rating and a $31.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Fermi in a research note on Wednesday. Macquarie reaffirmed an "outperform" rating and issued a $35.00 price objective on shares of Fermi in a research note on Wednesday. Redburn Partners set a $31.00 target price on Fermi in a report on Monday, October 27th. Finally, Evercore ISI set a $37.00 target price on shares of Fermi and gave the company an "outperform" rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $31.56.Get Our Latest Stock Report on FRMIFermi Price PerformanceFermi (NASDAQ:FRMI - Get Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.84) EPS for the quarter. About Fermi (Get Free Report)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.Further ReadingFive stocks we like better than FermiShort Selling - The Pros and Cons Are These 3 Oversold Tech Giants Ready to Rebound?How to Use the MarketBeat Stock Screener If You Wait for the Dip, Micron Technology Could Leave You BehindA Deeper Look at Bid-Ask Spreads3 Stocks Quietly Powering the AI and Tech RevolutionThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Fermi Right Now?Before you consider Fermi, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fermi wasn't on the list.While Fermi currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here