Jacobi Capital Management LLC Cuts Stock Position in Fisker Inc. (NYSE:FSR)

Jacobi Capital Management LLC lessened its holdings in Fisker Inc. (NYSE:FSR) by 85.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,500 shares of the company’s stock after selling 8,750 shares during the quarter. Jacobi Capital Management LLC’s holdings in Fisker were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FSR. BlackRock Inc. purchased a new stake in Fisker in the 4th quarter worth $89,764,000. Prentice Capital Management LP purchased a new position in shares of Fisker during the fourth quarter valued at about $34,092,000. Alliancebernstein L.P. purchased a new position in shares of Fisker during the fourth quarter valued at about $24,137,000. Phoenix Holdings Ltd. purchased a new position in shares of Fisker during the fourth quarter valued at about $16,090,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Fisker during the fourth quarter valued at about $16,115,000. Institutional investors and hedge funds own 24.05% of the company’s stock.

FSR has been the subject of a number of research analyst reports. Royal Bank of Canada initiated coverage on Fisker in a research report on Tuesday. They set an “outperform” rating and a $27.00 price objective for the company. Wolfe Research upgraded Fisker from an “underperform” rating to a “peer perform” rating and raised their price objective for the company from $21.00 to $30.00 in a research report on Tuesday, March 9th. Morgan Stanley lifted their price target on Fisker from $27.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 26th. R. F. Lafferty initiated coverage on Fisker in a research report on Wednesday, February 17th. They issued a “buy” rating and a $23.00 price target for the company. Finally, Barclays initiated coverage on Fisker in a research report on Thursday, April 1st. They issued an “equal weight” rating and a $17.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $26.36.

Shares of NYSE FSR opened at $17.60 on Friday. The company has a market capitalization of $5.20 billion, a P/E ratio of -44.00 and a beta of 0.95. Fisker Inc. has a 1 year low of $8.70 and a 1 year high of $31.96. The stock has a 50-day moving average price of $13.56.

Fisker (NYSE:FSR) last posted its quarterly earnings results on Sunday, May 16th. The company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. Equities research analysts predict 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 Fisker stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $22.63, for a total transaction of $17,958,489.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 46.57% of the company’s stock.

Fisker Company Profile

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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Institutional Ownership by Quarter for Fisker (NYSE:FSR)

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