FRMI · Fermi Inc.
$6.40
-0.20 (-3.03%)
At close · Aug 14
Going-concern doubt
— cleared Aug 14, 2026
The latest filing states the doubt was alleviated.
“Considered in the aggregate and before consideration of management's plans, these conditions raise substantial doubt about the Company's ability to continue as a going concern within that period. ... management has concluded that its plans alleviate the substantial doubt, and these unaudited condensed consolidated financial statements have been prepared on a going concern basis.”View the 10-Q filed Aug 14, 2026
Market Cap
$4.08B
Shares
640.47M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$6.40
Open$6.70
Day$6.32–6.72
Available close range$4.80–32.53
Avg vol 30d20.5M
Short int47.1M · 7.4% float · 2.6d
Short vol47%
Last earningsAug 13, 2026
DataOct 2025–Aug 2026
Filing10-Q · Aug 14
The closing range uses available history since Oct 1, 2025; less than a full year is stored.
Up next
Next earnings call
Nov 12, 2026
Est · unconfirmed
· in 13 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Aug 14, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Sell
Momentum
Weak
Sentiment
Neutral
Fundamentals
Fair
Quant / Vol
Very High
Market backdrop
VIX 14.3 · calm
Equity put/call 0.52
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−32%
below
Price vs 50-day avg
−10%
below
RSI (14)
48
neutral
MACD trend
Positive
52-week position
6%
near low
Momentum
relative strength
1-month return
+6%
trailing
6-month return
−29%
trailing
YTD return
−20%
this year
Relative strength
−43%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $7 › 200d $9 — 200d above 50d
Institutional flow
Accumulating
+36% holders QoQ · +127 funds added
Insider flow
Distributing
Net -$7.3M over 90 days · 100% sells
Short interest
Rising
7.36% of float · ▲ +10.9% MoM · 2.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
297 holders — 13F breadth
Squeeze score
67
elevated · 0–100
Fundamentals
Free cash flow
$-603.5M
Balance sheet
$149.7M
net cash
Quant / Vol
risk profile
Volatility
126%
annualized · 1-yr
Max drawdown
−85%
past year
ATR
11.0%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−32%
Bearish
Price vs 50-day avg
−10%
Bearish
RSI (14)
48
Neutral
MACD trend
Positive
Bullish
52-week position
6%
Bearish
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross)
No cross
50d $7 › 200d $9 — 200d above 50d
Institutional flow
Accumulating
+36% holders QoQ · +127 funds added
Insider flow
Distributing
Net -$7.3M over 90 days · 100% sells
Short interest
Rising
7.36% of float · ▲ +10.9% MoM · 2.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
297 holders — 13F breadth
Price context
position in its available closing range
Range low $5
Now $6 · 6%
Range high $33
vs 200-day avg -32%
vs 50-day avg -10%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Acres secured / under contract | 8,400 | As of June 30, 2026 | — |
| Convertible Senior Notes Conversion Price | $14.64 | Q2 2026 | — |
| Convertible Senior Notes Coupon | 5% | Q2 2026 | — |
| Data Center Space available | 15M | Q2 2026 | — |
| Fencing installed | 11.3 | As of June 30, 2026 | — |
| Hillcore BOOT incremental combined-cycle capacity | 2.6 | Q2 2026 | — |
| Natural gas lines installed | 4.6 | As of June 30, 2026 | — |
| perimeter fencing installed | 11 | second quarter ended June 30, 2026 | — |
| Phase 1 Contracted Capacity | 222 | Q2 2026 | — |
| Phase 1 Contracted Revenue | 6.5B | Q2 2026 | — |
| phase one power capacity (Siemens SGT-800 turbines) | 300 | second quarter ended June 30, 2026 | — |
| phase two power capacity (Siemens SGT6-5000F turbines) | 728 | second quarter ended June 30, 2026 | — |
| site buildout investment to date | 1.5B | second quarter ended June 30, 2026 | — |
| Site Preparation (sq ft) | 13.1M | As of June 30, 2026 | — |
| total cash and restricted cash on hand | 91.7M | second quarter ended June 30, 2026 | — |
| Total Facility Power including Two Data Center Expansion Options | 650 | Q2 2026 | — |
| Total planned on-site generation within ~30 months | 4.8 | Q2 2026 | — |
| Upsized Convertible Senior Notes | $431M | Q2 2026 | — |
| Water lines installed | 7.2 | As of June 30, 2026 | — |
| water supply capacity | 2.5M | second quarter ended June 30, 2026 | — |
| capital invested in Property, Plant, and Equipment | $441M | Q1 2026 | — |
| Clean Air Permit application filed with TCEQ | 5 | Q1 2026 | — |
| Clean Air Permit obtained from TCEQ | 6 | Q1 2026 | — |
| MUFG equipment finance facility | $500M | Q1 2026 | — |
| new equipment finance facilities secured | $785M | Q1 2026 | — |
| total power generation secured | 2 | Q1 2026 | — |
| Yorkville financing commitment | $156M | Q1 2026 | — |
| Capital raised since inception | 1.8B | from inception through December 31, 2025 | — |
| Cash invested in property, plant, and equipment | $569M | through December 31, 2025 | — |
| CSG/Beal Bank equipment financing facility | $165M | FY 2025 | — |
| F-Class combined cycle contracted capacity | 1.1 | FY 2025 | — |
| High-voltage transformers and switchgear on hand | 800 | FY 2025 | — |
| IPO proceeds | $785M | October 1, 2025 | — |
| Keystone/Cape transformer facility | $120M | FY 2025 | — |
| Macquarie senior loan facility | $250M | August 2025 | — |
| Macquarie Series C equity commitment | $108M | August 2025 | — |
| MUFG non-recourse equipment loan | $500M | FY 2025 | — |
| Secured water supply | 18.5 | FY 2025 | — |
| SGT-800 combined cycle capacity delivered to port | 478 | FY 2025 | — |
| TTU-controlled land | 5,236 | FY 2025 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Specialty — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
FRMI
this stock
Fermi Inc.
|
$4.08B | -20.0% | — | — | 7.4% |
|
EQIX
Equinix Inc
|
$108.75B | +43.8% | +7.8% | 70.9 | 1.9% |
|
AMT
American Tower Corp /Ma/
|
$81.86B | +0.0% | +5.1% | 28.3 | 1.6% |
|
DLR
Digital Realty Trust, Inc.
|
$70.33B | +29.4% | +10.0% | — | 2.4% |
|
IRM
Iron Mountain Inc
|
$38.53B | +56.0% | +8.3% | 91.8 | 2.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Earnings & Events
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| FRMI | +3.6% | +5.8% | -28.7% | +12.5% | -20.0% |
| SPY | +0.4% | +4.5% | +13.8% | +3.9% | +13.9% |
| vs SPY | +3.2% | +1.3% | -42.5% | +8.6% | -33.9% |
Key facts
CIK
2071778
CUSIP
314911108
13F (30d)
282 filings
282 filers
Visit website
Investor relations