2026-10-25
Fermi clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
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latest tape · as of 20:03 UTC
The Screen · Real Estate · REIT - Specialty
Fermi Inc.
FRMI · Nasdaq · USD · Market cap $1.3B · 35 employees
Fermi Inc.
Not yet scored1.82 USD
Price as of 4 Nov 2026Daily close, not a live quote
Screened 2026-11-04 · the tape above runs as of 20:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
- Price1.82 USD at the 4 Nov 2026 close
- Fair value1.64. Our model only; the analyst targets sit too far from the price to cross-check it.
- Our value readFair vs our fair value, as of 4 Nov 2026
- Our regime readDistribution, as of 5 Nov 2026
- Ethical screenNot yet scored
- OptionsOpen interest leans heavily to calls (put/call 0.08)
- Last reviewed4 Nov 2026 (1 days ago)
- Release timesRelease and earnings times on your chart: Event Guard Mentor
A summary of the dated readings below, not a live quote and not advice.
PRICE · ONE YEAR
Our fair-value range: $1.64 to $2.89, base estimate $1.64 (screen dated 2026-11-04).
- Trend Distribution
- Insiders insiders sold, $1,277,226, latest filing 2026-10-20
- Positioning no disclosures inside 60 days, left as found
- Options put/call open interest 0.08, read 2026-11-05
- Ethical screen not yet scored
Price1.82 USD
Fair value1.64Our model only; the analyst targets sit too far from the price to cross-check it.
Ethical score95.6/100
Value readFairas of 4 Nov 2026
Our investment reviews on this name
2026-11-01Read Distribution2.61-30.3% to today ✓Markdown gives way to Distribution after a 54% slide in 9 weeks
2026-08-29Read Markdown5.62-67.6% to today ✓Markup gives way to Markdown with volume flow in agreement
2026-07-02Read Markup5.78-68.5% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
The full research record, in depth, below
This name holds its distribution label.
Fermi Inc. holds its Distribution at $1.82. The statistical read favours the buyers, held for 48 days.
| Phase | Distribution · caution |
| Quantitative state | The statistical read favours the buyers, held for 48 days |
| Price at the screen | $1.82 |
| Valuation | N/A trailing · 9.15 forward price to earnings |
| Values screen | Not scored · score 95.6 |
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
| Test | Figure | Limit | What it means | Status |
|---|---|---|---|---|
| Business activity | Permissible | Core business clean | Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending. | Pass |
| Debt load | 2.79% | Below 33% | Interest-bearing debt is just 2.8% of its assets, well under the one-third ceiling: it does not run on borrowed money. | Pass |
| Interest-bearing cash | 8.69% | Below 33% | Cash held in interest-bearing accounts and securities is 8.7% of assets, under the one-third limit. | Pass |
| Receivables | 0.00% | Below 49% | Money owed to the company is 0.0% of assets, under the 49% limit. | Pass |
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical ReadThe Read, in Plain English
Fermi clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
2026-09-24
Clears
Fermi clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 3%, inside the ~33% line, and almost none of its income is interest, so it passes.
Earlier reads, kept as written. The ethical profile is tracked over time, not overwritten.
What the Numbers Say It Is WorthThe Fair Value Range
Our model only; the analyst targets sit too far from the price to cross-check it.
Our analysis reads Fair vs our fair value, as of 4 Nov 2026: it trades above our $1.64 fair value estimate, weak competitive moat.
How a fair value is estimated: discounted cash flow (DCF).
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. The price runs 11.0% above the base estimate.
Third-party analyst targets: 8 covering, consensus Buy. The average target sits +614% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & ProjectionsWhere our models see it going: fair-value estimate $1.64, with a range of $1.64 to $2.89, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain WordsWhy it is worth knowing
A quality business: a weak moat. At the screened price it sits 11% above our $1.64 fair value: priced for the quality, not a bargain.
| Forward P/E | 9.2xvery cheap relative to earnings |
| EPS, trailing | -1.27 |
| EPS, forward | 0.22 |
| Profit margin | 0.0%currently unprofitable |
| Debt to equity | 0.56moderate, manageable leverage |
| Current ratio | 1.10adequate liquidity, worth monitoring |
| Short interest, float | 0.16% |
| 52-week range | 2.00 - 28.90 |
| Moat | WEAK |
| Market cap | $1.3B |
| Employees | 35 |
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to TradeFRMI trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
Every Entry, As Written
2026-11-05
Distribution $1.82
-30.3% Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 30.3% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20. Since the last review it entered the Titan Ethical 500; its composite score rose. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01
Distribution · changed $2.61
-13.6% Entry 10
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 13.6% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-10-25
Markdown $3.02
-11.0% Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 11.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading bearish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20. Since the last review it its composite score rose.
2026-10-18
Markdown $3.39
-20.7% Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 20.7% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-10-11
Markdown $4.28
+0.0% Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-10-02
Markdown $4.28
-23.8% Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 23.8% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20. Since the last review it dropped out of the Titan Ethical 500; its quality tier slipped to Watch; its composite score eased.
2026-08-29
Markdown · changed $5.62
-7.1% Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.1% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-07-30
Markup $6.05
+4.7% Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 4.7% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-07-18
Markup $5.78
+0.0% Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bullish. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (8 analysts) rates it buy, with a mean price target of $20.
2026-07-03
Markup $5.78
+0.0% Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score (96). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
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| Date | Insider | Title | Type | Shares | Value |
|---|---|---|---|---|---|
| 2026-10-20 | Neugebauer Toby R | 10% | S - Sale | 420,749 | $1,277,226 |
| 2026-04-09 | EVERSON MILES | Chief Financial Officer | 830,209 | $3,935,415 | |
| 2026-04-09 | HAMILTON CHARLIE | Officer | 774,090 | $3,669,396 | |
| 2026-04-09 | ORTIZ BLANES JACOBO | Chief Operating Officer | 830,908 | $3,938,728 |
Public filings, recorded as found. The full tape lives at Insider Intelligence.
| Period | Price then | Price return | Divs per share | $1,000 became | Total return |
|---|---|---|---|---|---|
| 1 month | $5.37 | +28.2% | · | $1,282 | +28.2% |
| 2 months | $4.87 | +41.4% | · | $1,414 | +41.4% |
| 3 months | $8.10 | -15.0% | · | $850 | -15.0% |
| 6 months | $15.25 | -54.9% | · | $452 | -54.9% |
Historical returns from market close data. Past performance does not guarantee future results.
This entry now belongs to the ledger. Whatever FRMI does next, these words stay.
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Join the deskScreening is research, not a fatwa and not financial advice. Figures are drawn from public accounts at the screen date shown. Always manage your risk.