9to5investing

Stocks·NASDAQ:FRMI

Fermi (FRMI)

OverviewFinancialsOwnersFilings
Loading chart…
Free cash flow, last 12 months-$1.19BBurning cash
Cash and short-term investments$62.5MDebt: $520M

My take

Average analyst target about $16.60 8 analysts · as of Oct 22, 2026 · Scorecard

Every video where I mention FRMI

The last 12 months

  1. Nov 4, 20268-KShareholder vote results
  2. Oct 23, 2026VideoMy video: Wall Street Says This $2 AI Power Stock Is Worth $16. I Checked Who Said It. (FRMI) (Fermi Stock)
  3. Oct 16, 20268-KOther news
  4. Aug 31, 20268-KSet director nomination dates; Other news
  5. Aug 14, 202610-QQuarterly report
  6. Aug 14, 20268-KExecutive or board change
  7. Aug 13, 20268-KReleased quarterly results
  8. Jul 23, 20268-KExecutive or board change
  9. Jul 21, 20268-K/AExecutive or board change
  10. Jul 20, 2026SCHEDULE 13GAn investor reported a 5%+ stake
  11. Jul 15, 20268-KSigned a major agreement; Took on new debt; Sold shares without SEC registration; Shared information with investors
  12. Jul 13, 20268-KExecutive or board change
  13. Jul 9, 20268-KShared information with investors; Other news
  14. May 15, 2026SCHEDULE 13DAn investor took a 5%+ stake and may push for changes

All filings →

Operating income (loss) by year profit from the business before interest and taxes
2025: -$178M2025-$178M
Show the numbers
Operating income (loss) by year
2025-$178M
Free cash flow by year cash from operations minus spending on buildings and equipment
2025: -$603M2025-$603M
Show the numbers
Free cash flow by year
2025-$603M
Cash vs. debt

Cash and short-term investmentsDebt

2025 · Cash and short-term investments: $409M2025 · Debt: $110M2025
Show the numbers
Cash and short-term investmentsDebt
2025$409M$110M

Compare FRMI with other stocks →

From the company's own SEC filings via SEC EDGAR, latest period ended Jun 30, 2026. Numbers can be restated later. Not investment advice.

Dilution

Shares outstanding
Nov 2025: 614MNov 2025Mar 2026: 630MMar 2026Apr 2026: 638MApr 2026May 2026: 638MMay 2026Aug 2026: 640MAug 2026640M
Show the numbers
Shares outstanding
Nov 2025614M
Mar 2026630M
Apr 2026638M
May 2026638M
Aug 2026640M

Insider trades

Insider buys, 12 months0none
Insider sales, 12 months18$104M

Bought or sold on the open market

DateWhoWhatSharesValueFiling
Nov 5, 2026Toby R (+1 joint filer) Neugebauer
10% owner		Sold on the market5M$7.60MForm 4
Nov 4, 2026Toby R (+1 joint filer) Neugebauer
10% owner		Sold on the market94K$188KForm 4
Nov 3, 2026Toby R (+1 joint filer) Neugebauer
10% owner		Sold on the market
2 trades that day		2.6M$5.23MForm 4
Oct 20, 2026Toby R (+1 joint filer) Neugebauer
10% owner		Sold on the market421K$1.28MForm 4
Oct 14, 2026Toby R (+1 joint filer) Neugebauer
10% owner		Sold on the market1.3M$4.09MForm 4
Oct 13, 2026Toby R (+1 joint filer) Neugebauer
10% owner		Sold on the market2.8M$10.3MForm 4
Jun 30, 2026James Richard Perry
Director		Sold on the market864K$6.31MForm 4
Jun 3, 2026Mesut Uzman
Chief Nuclear Constr. Officer		Sold on the market
2 trades that day		159K$1MForm 4
Apr 9, 2026Charles Lynn Hamilton
Chief Site Development Officer		Sold on the market398K$1.82MForm 4
Apr 9, 2026Blanes Jacobo Ortiz
Chief Operating Officer		Sold on the market427K$1.96MForm 4
Apr 9, 2026Miles E. Everson
Chief Financial Officer		Sold on the market427K$1.96MForm 4
Apr 8, 2026Charles Lynn Hamilton
Chief Site Development Officer		Sold on the market376K$1.85MForm 4
Apr 8, 2026Blanes Jacobo Ortiz
Chief Operating Officer		Sold on the market404K$1.98MForm 4
Apr 8, 2026Miles E. Everson
Chief Financial Officer		Sold on the market403K$1.98MForm 4
Mar 31, 2026Griffin (+1 joint filer) Perry
10% owner		Sold on the market2M$11.1MForm 4
Everything else: grants, option exercises, tax withholding (9)
DateWhoWhatSharesValueFiling
Aug 20, 2026Blanes Jacobo Ortiz
Chief Operating Officer		Grant or award147Kn/aForm 4
Aug 14, 2026Lee A Mcintire
Chief Executive Officer, Director		Grant or award469Kn/aForm 4
Jun 1, 2026Marius Haas
Director		Grant or award175Kn/aForm 4
Jun 1, 2026Jeffrey Scott Stein
Director		Grant or award250Kn/aForm 4
Jun 1, 2026Cordel Robbin-Coker
Director		Grant or award175Kn/aForm 4
Jun 1, 2026Lee A Mcintire
Director		Grant or award175Kn/aForm 4
Jun 1, 2026Lawrence M. Kellerman
Chief Power Officer, Director		Grant or award35.8Kn/aForm 4
Jun 1, 2026Miles E. Everson
Director		Grant or award35.8Kn/aForm 4
Jun 1, 2026James Richard Perry
Director		Grant or award175Kn/aForm 4

An insider buying with their own money is a stronger signal than a sale: people sell for taxes, houses and diversification. "Planned" sales were scheduled months ahead under a 10b5-1 plan. Source: SEC Form 4.

Famous investors who own it

None of the 18 famous investors I track owned FRMI at their last 13F. Who I track.

Failed trades

Failed trades (fails to deliver) shares that weren't delivered on time when a trade settled
Jun 24: 599Jun 29: 4.4KJun 30: 145KJul 2: 10.6KJul 2Jul 6: 1.8KJul 8: 3.2KJul 10: 899KJul 16: 434KJul 16Jul 22: 4.1KJul 27: 50KJul 30: 201Jul 31: 45Jul 31Aug 4: 293KAug 5: 3.4KAug 6: 1.6KAug 11: 6.6KAug 11Aug 12: 415KAug 13: 340KAug 14: 194KAug 19: 76.1KAug 19Aug 20: 14.8KAug 25: 39.1KAug 28: 14.4KAug 31: 47.8KAug 31Sep 1: 409KSep 2: 130Sep 11: 2KSep 15: 3.9KSep 15Sep 18: 896KSep 21: 2.8MSep 23: 147KSep 25: 727Sep 25Sep 28: 118Sep 29: 1.8KSep 30: 177KOct 5: 25KOct 5Oct 6: 246Oct 7: 113KOct 9: 283KOct 13: 192KOct 13192K
Show the numbers
Failed trades (fails to deliver)
Jun 24599
Jun 294.4K
Jun 30145K
Jul 210.6K
Jul 61.8K
Jul 83.2K
Jul 10899K
Jul 16434K
Jul 224.1K
Jul 2750K
Jul 30201
Jul 3145
Aug 4293K
Aug 53.4K
Aug 61.6K
Aug 116.6K
Aug 12415K
Aug 13340K
Aug 14194K
Aug 1976.1K
Aug 2014.8K
Aug 2539.1K
Aug 2814.4K
Aug 3147.8K
Sep 1409K
Sep 2130
Sep 112K
Sep 153.9K
Sep 18896K
Sep 212.8M
Sep 23147K
Sep 25727
Sep 28118
Sep 291.8K
Sep 30177K
Oct 525K
Oct 6246
Oct 7113K
Oct 9283K
Oct 13192K

From the SEC's fails-to-deliver data, which runs two to four weeks behind. A spike can mean heavy short selling or just back-office delays; it isn't proof of anything on its own. Short interest isn't shown: FINRA's terms don't allow republishing it.

Share offerings

Selling new shares dilutes current owners. A "shelf" is permission to sell later; a 424B5 usually means a sale is actually happening.

What they told the SEC, in plain English

Every 8-K (the report a company files when something big happens) in the last two years. Red ones are worth a closer look: auditor changes, restatements, late reports, listing problems.

What changed in the latest annual report

Only one annual report on file (10-K, filed 2026-03-30), so there's nothing to compare yet.

Search inside Fermi's filings

Opens the SEC's own full-text search in a new tab, limited to FRMI. Every FRMI filing on EDGAR.