Fisker (NYSE:FSR) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of Fisker (NYSE:FSRGet Rating) from an overweight rating to an equal weight rating in a report published on Friday, Marketbeat reports. They currently have $10.00 price objective on the stock, down from their prior price objective of $15.00.

FSR has been the subject of several other research reports. Cowen lowered their target price on shares of Fisker from $28.00 to $19.00 and set an outperform rating for the company in a research note on Thursday, May 5th. Tudor, Pickering, Holt & Co. downgraded shares of Fisker from a buy rating to a hold rating and lowered their target price for the company from $25.00 to $13.00 in a research note on Wednesday, May 25th. Cowen reduced their price target on shares of Fisker from $28.00 to $19.00 in a report on Thursday, May 5th. Exane BNP Paribas began coverage on shares of Fisker in a report on Monday, April 11th. They issued an outperform rating for the company. Finally, Barclays reduced their price target on shares of Fisker from $16.00 to $14.00 and set an equal weight rating for the company in a report on Thursday, May 5th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fisker has an average rating of Moderate Buy and a consensus target price of $17.82.

Fisker Stock Down 2.0 %

FSR opened at $10.17 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 9.12 and a quick ratio of 9.12. The firm has a 50 day simple moving average of $9.30 and a 200 day simple moving average of $10.75. Fisker has a fifty-two week low of $7.95 and a fifty-two week high of $23.75.

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

Hedge Funds Weigh In On Fisker

Several large investors have recently modified their holdings of FSR. National Asset Management Inc. bought a new position in shares of Fisker in the fourth quarter valued at about $222,000. Allspring Global Investments Holdings LLC bought a new position in Fisker during the fourth quarter worth about $144,000. Qube Research & Technologies Ltd bought a new position in Fisker during the fourth quarter worth about $332,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Fisker by 45.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,477 shares of the company’s stock worth $322,000 after acquiring an additional 6,421 shares during the period. Finally, Sigma Planning Corp increased its position in Fisker by 12.1% during the fourth quarter. Sigma Planning Corp now owns 32,210 shares of the company’s stock worth $507,000 after acquiring an additional 3,469 shares during the period. 28.77% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Fisker (NYSE:FSR)

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