Shares of Fisker Inc. (NYSE:FSR – Get Rating) saw unusually-high trading volume on Friday . Approximately 9,324,511 shares were traded during trading, an increase of 73% from the previous session's volume of 5,398,201 shares.The stock last traded at $8.02 and had previously closed at $6.82.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on FSR shares. Royal Bank of Canada cut Fisker from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $13.00 to $8.00 in a report on Thursday, November 3rd. Evercore ISI started coverage on Fisker in a report on Tuesday, November 29th. They issued an "outperform" rating and a $15.00 target price on the stock. Needham & Company LLC decreased their target price on Fisker from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, October 20th. Finally, Morgan Stanley cut Fisker from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $8.00 to $4.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $14.62.
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Fisker Trading Up 15.0 %
The stock has a market cap of $2.45 billion, a PE ratio of -4.53 and a beta of 1.10. The stock has a 50-day moving average price of $7.26 and a two-hundred day moving average price of $8.05. The company has a debt-to-equity ratio of 1.12, a current ratio of 6.99 and a quick ratio of 6.99.
Fisker (NYSE:FSR – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.04). The firm had revenue of $0.01 million for the quarter. Fisker had a negative net
margin of 669,901.25% and a negative return on equity of 75.88%. Sell-side analysts forecast that Fisker Inc. will post -1.64 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Henrik Fisker purchased 33,700 shares of the company's stock in a transaction that occurred on Monday, December 5th. The stock was bought at an average price of $7.42 per share, for a total transaction of $250,054.00. Following the completion of the transaction, the chief executive officer now owns 629,218 shares in the company, valued at approximately $4,668,797.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders purchased 35,505 shares of company stock worth $263,208. Corporate insiders own 45.75% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp grew its position in Fisker by 126.7% in the fourth quarter. Toth Financial Advisory Corp now owns 3,400 shares of the company's stock worth $25,000 after acquiring an additional 1,900 shares in the last quarter. Ronald Blue Trust Inc. bought a new stake in Fisker in the second quarter worth about $42,000. Captrust Financial Advisors lifted its stake in Fisker by 34.3% in the first quarter. Captrust Financial Advisors now owns 4,390 shares of the company's stock worth $57,000 after purchasing an additional 1,121 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Fisker in the first quarter worth about $59,000. Finally, Point72 Hong Kong Ltd bought a new stake in Fisker in the second quarter worth about $68,000. Hedge funds and other institutional investors own 28.95% of the company's stock.
About Fisker
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Fisker, Inc engages in building a technology-enabled automotive business model, which involves vehicle development, customer experience, and sales and service. It also designs, develops, and manufactures eco-friendly electric vehicles. The company was founded by Henrik Fisker and Geeta Gupta-Fisker in 2016 is headquartered in Manhattan Beach, CA.
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