Shares of Fisker Inc. (NYSE:FSR – Get Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $7.30, but opened at $6.73. Fisker shares last traded at $6.82, with a volume of 2,140,874 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on FSR shares. Royal Bank of Canada downgraded Fisker from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $13.00 to $8.00 in a research report on Thursday, November 3rd. Morgan Stanley downgraded Fisker from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $8.00 to $4.00 in a research report on Wednesday. Evercore ISI assumed coverage on Fisker in a research report on Tuesday, November 29th. They issued an “outperform” rating and a $15.00 target price for the company. Finally, Needham & Company LLC decreased their target price on Fisker from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.62.
Fisker Price Performance
The company has a 50 day simple moving average of $7.31 and a 200-day simple moving average of $8.08. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -3.97 and a beta of 1.10. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 1.12.
Insider Buying and Selling at Fisker
In other news, CEO Henrik Fisker acquired 33,700 shares of the business’s stock in a transaction on Monday, December 5th. The shares were purchased at an average price of $7.42 per share, for a total transaction of $250,054.00. Following the completion of the purchase, the chief executive officer now directly owns 629,218 shares of the company’s stock, valued at approximately $4,668,797.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 35,505 shares of company stock worth $263,208 over the last quarter. 45.75% of the stock is owned by corporate insiders.
Institutional Trading of Fisker
A number of institutional investors and hedge funds have recently made changes to their positions in FSR. HighTower Advisors LLC raised its position in shares of Fisker by 4.4% during the 1st quarter. HighTower Advisors LLC now owns 50,610 shares of the company’s stock worth $649,000 after purchasing an additional 2,134 shares during the period. Cetera Advisor Networks LLC raised its position in shares of Fisker by 13.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 12,693 shares of the company’s stock worth $164,000 after purchasing an additional 1,464 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Fisker during the 1st quarter worth approximately $133,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Fisker by 164.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,742 shares of the company’s stock worth $551,000 after purchasing an additional 26,604 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Fisker by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 92,391 shares of the company’s stock worth $1,192,000 after purchasing an additional 34,099 shares during the period. 28.95% of the stock is currently owned by institutional investors and hedge funds.
Fisker Company Profile
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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