Fisker Inc. (NYSE:FSR) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Fisker Inc. (NYSE:FSR) have been given an average recommendation of “Reduce” by the nine research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.76.

A number of brokerages have weighed in on FSR. R. F. Lafferty reissued a “hold” rating and set a $2.00 price target (down previously from $3.00) on shares of Fisker in a research note on Friday, March 1st. Barclays decreased their price target on Fisker from $4.00 to $1.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 24th. Citigroup reaffirmed a “neutral” rating and set a $0.80 price objective (down previously from $4.00) on shares of Fisker in a research note on Friday, March 1st. Finally, TD Cowen cut shares of Fisker from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $11.00 to $1.00 in a research report on Wednesday, January 17th.

Institutional Trading of Fisker

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in Fisker by 6.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 40,172 shares of the company’s stock valued at $258,000 after purchasing an additional 2,290 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Fisker by 17.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 23,491 shares of the company’s stock valued at $151,000 after buying an additional 3,450 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Fisker by 6.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 108,427 shares of the company’s stock valued at $696,000 after buying an additional 6,427 shares during the period. Swiss National Bank lifted its position in Fisker by 1.8% during the 3rd quarter. Swiss National Bank now owns 415,900 shares of the company’s stock worth $2,670,000 after acquiring an additional 7,300 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Fisker by 52.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,575 shares of the company’s stock worth $196,000 after acquiring an additional 10,584 shares during the period. Institutional investors and hedge funds own 33.58% of the company’s stock.

Fisker Trading Down 28.1 %

Shares of FSR stock opened at $0.09 on Friday. The company has a market capitalization of $31.44 million, a price-to-earnings ratio of -0.04 and a beta of 0.71. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 3.28. The firm has a 50-day moving average price of $0.25 and a 200 day moving average price of $1.60. Fisker has a twelve month low of $0.09 and a twelve month high of $7.22.

Fisker (NYSE:FSR) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.39) earnings per share 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 firm had revenue of $200.07 million during the quarter, compared to analyst estimates of $332.66 million. Research analysts forecast that Fisker will post -0.43 earnings per share for the current fiscal year.

About Fisker

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.