Fisker (NYSE:FSR) Shares Up 13.1%

Fisker Inc. (NYSE:FSRGet Rating) shares shot up 13.1% during mid-day trading on Thursday . The stock traded as high as $9.55 and last traded at $9.38. 258,740 shares were traded during mid-day trading, a decline of 97% from the average session volume of 7,679,088 shares. The stock had previously closed at $8.29.

Several brokerages have recently issued reports on FSR. BNP Paribas began coverage on Fisker in a research note on Monday, April 11th. They issued an “outperform” rating for the company. Zacks Investment Research upgraded Fisker from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. Royal Bank of Canada decreased their target price on Fisker from $26.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. Cowen decreased their target price on Fisker from $28.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, May 5th. Finally, Credit Suisse Group decreased their target price on Fisker from $32.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $22.50.

The company has a market cap of $2.92 billion, a price-to-earnings ratio of -6.99 and a beta of 1.00. The firm has a 50-day simple moving average of $11.53 and a 200 day simple moving average of $14.26. The company has a quick ratio of 10.98, a current ratio of 9.12 and a debt-to-equity ratio of 0.96.

Fisker (NYSE:FSRGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. Fisker had a negative return on equity of 48.47% and a negative net margin of 438,496.81%. The company’s quarterly revenue was down 45.5% on a year-over-year basis. During the same period last year, the firm earned ($0.11) EPS. As a group, research analysts expect that Fisker Inc. will post -1.68 EPS for the current year.

In other news, CTO Burkhard J. Huhnke sold 6,639 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $11.00, for a total value of $73,029.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO John C. Iv Finnucan sold 3,548 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $11.00, for a total value of $39,028.00. The disclosure for this sale can be found here. Insiders own 24.95% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Fisker by 1.3% during the first quarter. Vanguard Group Inc. now owns 13,547,871 shares of the company’s stock worth $174,767,000 after purchasing an additional 167,941 shares in the last quarter. BlackRock Inc. boosted its position in Fisker by 13.1% during the fourth quarter. BlackRock Inc. now owns 11,034,890 shares of the company’s stock worth $173,579,000 after purchasing an additional 1,277,005 shares in the last quarter. Alliancebernstein L.P. boosted its position in Fisker by 27.3% during the fourth quarter. Alliancebernstein L.P. now owns 6,166,486 shares of the company’s stock worth $96,999,000 after purchasing an additional 1,321,605 shares in the last quarter. Morgan Stanley boosted its position in Fisker by 22.2% during the third quarter. Morgan Stanley now owns 3,853,063 shares of the company’s stock worth $56,448,000 after purchasing an additional 701,008 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Fisker by 6.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,342,501 shares of the company’s stock worth $43,118,000 after purchasing an additional 200,218 shares in the last quarter. 28.77% of the stock is currently owned by hedge funds and other institutional investors.

About Fisker (NYSE:FSR)

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.

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