Fisker (NYSE:FSR) Trading Up 8.5% Following Analyst Upgrade

Fisker Inc. (NYSE:FSRGet Rating)’s stock price was up 8.5% during trading on Thursday after Citigroup raised their price target on the stock from $27.00 to $28.00. The company traded as high as $11.40 and last traded at $11.29. Approximately 137,217 shares changed hands during trading, a decline of 96% from the average daily volume of 3,514,440 shares. The stock had previously closed at $10.41.

A number of other equities research analysts also recently issued reports on the stock. Cowen reduced their price objective on shares of Fisker from $28.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, May 5th. Morgan Stanley reduced their price objective on shares of Fisker from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. BNP Paribas assumed coverage on shares of Fisker in a research note on Monday, April 11th. They set an “outperform” rating on the stock. Credit Suisse Group reduced their price objective on shares of Fisker from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 17th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of Fisker from a “buy” rating to a “hold” rating and reduced their price target for the company from $25.00 to $13.00 in a research note on Wednesday, May 25th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.82.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in Fisker by 14.9% during the 4th quarter. Citigroup Inc. now owns 62,563 shares of the company’s stock worth $984,000 after purchasing an additional 8,129 shares during the last quarter. Alpha Paradigm Partners LLC bought a new stake in shares of Fisker in the 4th quarter valued at $408,000. Panagora Asset Management Inc. bought a new stake in shares of Fisker in the 4th quarter valued at $166,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Fisker by 74.2% in the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,142,283 shares of the company’s stock valued at $49,428,000 after acquiring an additional 1,338,923 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Fisker by 27.3% in the 4th quarter. Alliancebernstein L.P. now owns 6,166,486 shares of the company’s stock valued at $96,999,000 after acquiring an additional 1,321,605 shares in the last quarter. Institutional investors own 28.77% of the company’s stock.

Fisker Stock Down 2.0 %

The firm’s 50 day moving average price is $9.30 and its two-hundred day moving average price is $10.75. The company has a market cap of $3.02 billion, a P/E ratio of -6.32 and a beta of 1.08. The company has a debt-to-equity ratio of 0.96, a quick ratio of 9.12 and a current ratio of 9.12.

Fisker (NYSE:FSRGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. Fisker had a negative net margin of 610,674.38% and a negative return on equity of 59.84%. The business’s revenue was down 45.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) EPS. Equities research analysts anticipate that Fisker Inc. will post -1.68 EPS for the current fiscal year.

Fisker Company Profile

(Get Rating)

Fisker Inc develops, manufactures, markets, leases, or sale of electric vehicles. The company is also involved in asset-light automotive business. It operates through The White Space, The Value Segment, and The Conservative Premium segments. In addition, the company offers fisker flexible platform agnostic design ,a process that develops and designs electric vehicles in specific segment size.

Featured Articles

Receive News & Ratings for Fisker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fisker and related companies with MarketBeat.com's FREE daily email newsletter.