Analysts Set Fisker Inc. (NYSE:FSR) Price Target at $2.76

Fisker Inc. (NYSE:FSR) has been assigned an average recommendation of “Reduce” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $2.76.

FSR has been the subject of a number of recent research reports. R. F. Lafferty reaffirmed a “hold” rating and issued a $2.00 target price (down from $3.00) on shares of Fisker in a research note on Friday, March 1st. Citigroup reaffirmed a “neutral” rating and issued a $0.80 target price (down from $4.00) on shares of Fisker in a research note on Friday, March 1st. Barclays cut their target price on Fisker from $4.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, January 24th. Finally, TD Cowen downgraded Fisker from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $11.00 to $1.00 in a research note on Wednesday, January 17th.

Fisker Trading Down 28.1 %

Fisker stock opened at $0.09 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 3.28. Fisker has a 12 month low of $0.09 and a 12 month high of $7.22. The stock’s 50 day simple moving average is $0.23 and its two-hundred day simple moving average is $1.48. The firm has a market cap of $31.44 million, a PE ratio of -0.04 and a beta of 0.71.

Fisker (NYSE:FSR) last announced its earnings results on Thursday, February 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.19). Fisker had a negative net margin of 278.72% and a negative return on equity of 110.93%. The business had revenue of $200.07 million for the quarter, compared to analysts’ expectations of $332.66 million. Analysts anticipate that Fisker will post -0.43 earnings per share for the current year.

Institutional Trading of Fisker

A number of institutional investors have recently modified their holdings of FSR. Baader Bank Aktiengesellschaft purchased a new stake in shares of Fisker in the fourth quarter valued at $29,000. QCM Cayman Ltd. acquired a new stake in Fisker during the third quarter worth about $75,000. FNY Investment Advisers LLC acquired a new stake in Fisker during the fourth quarter worth about $76,000. Tower Research Capital LLC TRC increased its stake in Fisker by 233.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 43,514 shares of the company’s stock worth $76,000 after acquiring an additional 30,456 shares during the last quarter. Finally, Pathstone Family Office LLC acquired a new stake in Fisker during the third quarter worth about $82,000. 33.58% of the stock is currently owned by hedge funds and other institutional investors.

Fisker Company Profile

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