Fisker (NYSE:FSR) Trading Down 28.2%

Fisker Inc. (NYSE:FSR) traded down 28.2% during trading on Tuesday . The stock traded as low as $0.09 and last traded at $0.09. 62,229,286 shares were traded during mid-day trading, a decline of 63% from the average session volume of 166,496,208 shares. The stock had previously closed at $0.12.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays reduced their price objective on shares of Fisker from $4.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, January 24th. The Goldman Sachs Group cut their target price on shares of Fisker from $2.00 to $1.00 and set a “sell” rating for the company in a research report on Monday, December 4th. R. F. Lafferty restated a “hold” rating and set a $2.00 target price (down previously from $3.00) on shares of Fisker in a research report on Friday, March 1st. Citigroup reiterated a “neutral” rating and set a $0.80 price target (down from $4.00) on shares of Fisker in a report on Friday, March 1st. Finally, Evercore ISI reiterated an “in-line” rating and set a $2.00 price target (down from $6.00) on shares of Fisker in a report on Monday, December 4th. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.76.

Fisker Trading Down 28.2 %

The stock has a market capitalization of $31.43 million, a price-to-earnings ratio of -0.04 and a beta of 0.71. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.68 and a quick ratio of 1.05. The business’s 50-day simple moving average is $0.56 and its two-hundred day simple moving average is $2.55.

Fisker (NYSE:FSR) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.19). The business had revenue of $200.07 million for the quarter, compared to analyst estimates of $332.66 million. Fisker had a negative net margin of 278.72% and a negative return on equity of 110.93%. On average, research analysts anticipate that Fisker Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FSR. HighTower Advisors LLC lifted its position in shares of Fisker by 4.4% during the first quarter. HighTower Advisors LLC now owns 50,610 shares of the company’s stock worth $649,000 after purchasing an additional 2,134 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Fisker by 13.0% during the first 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 in the last quarter. Private Advisor Group LLC acquired a new position in shares of Fisker during the first quarter worth $133,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Fisker by 164.9% during the first 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 in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Fisker by 58.5% during the first 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 in the last quarter. 33.58% of the stock is owned by institutional investors and hedge funds.

About Fisker

Fisker Inc develops, manufactures, markets, leases, or sells electric vehicles. It operates through three segments: The White Space, The Value Segment, and The Conservative Premium segments. The company is also involved in asset-light automotive business. In addition, it offers fisker flexible platform agnostic design, a process that develops and designs electric vehicles in specific segment size.