Fisker (NYSE:FSR) Shares Gap Up to $18.07

Fisker Inc. (NYSE:FSR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $18.07, but opened at $19.09. Fisker shares last traded at $19.23, with a volume of 91,644 shares changing hands.

Several brokerages have recently issued reports on FSR. Cowen upped their price objective on Fisker from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, February 26th. Zacks Investment Research downgraded Fisker from a “hold” rating to a “sell” rating in a research report on Thursday, May 20th. R. F. Lafferty began coverage on Fisker in a research report on Wednesday, February 17th. They issued a “buy” rating and a $23.00 price objective on the stock. Citigroup upped their price objective on Fisker from $26.00 to $31.00 in a research report on Wednesday, March 10th. Finally, Royal Bank of Canada started coverage on Fisker in a research report on Tuesday. They issued an “outperform” rating and a $27.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.36.

The stock has a market cap of $5.20 billion, a P/E ratio of -44.00 and a beta of 0.95. The business has a 50 day moving average price of $13.56.

Fisker (NYSE:FSR) last announced its quarterly earnings results on Sunday, May 16th. The company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. As a group, equities research analysts anticipate that Fisker Inc. will post -0.85 EPS for the current year.

In other news, major shareholder Energy Acquisition Spo Spartan sold 793,570 shares of the stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $22.63, for a total value of $17,958,489.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 46.57% of the company’s stock.

Several hedge funds have recently bought and sold shares of FSR. MBL Wealth LLC acquired a new stake in Fisker during the 1st quarter valued at approximately $172,000. Axiom Investment Management LLC acquired a new stake in Fisker during the 1st quarter valued at approximately $201,000. Virtu Financial LLC grew its stake in Fisker by 408.4% during the 1st quarter. Virtu Financial LLC now owns 111,911 shares of the company’s stock valued at $1,927,000 after purchasing an additional 89,899 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Fisker during the 1st quarter valued at approximately $781,000. Finally, Paloma Partners Management Co acquired a new stake in Fisker during the 1st quarter valued at approximately $207,000. Institutional investors and hedge funds own 24.05% of the company’s stock.

About Fisker (NYSE:FSR)

Fisker, Inc focuses on design, development, manufacture, and sale of electric vehicles. The company was founded in 2016 and is headquartered in Manhattan Beach, California.

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