Fisker Inc. (NYSE:FSR) Given Average Recommendation of “Reduce” by Brokerages

Shares of Fisker Inc. (NYSE:FSR) have earned a consensus rating of “Reduce” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $2.76.

A number of research analysts recently commented on the company. TD Cowen downgraded Fisker from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $11.00 to $1.00 in a research note on Wednesday, January 17th. Citigroup reaffirmed a “neutral” rating and issued a $0.80 price objective (down previously from $4.00) on shares of Fisker in a report on Friday, March 1st. Barclays reduced their target price 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. Finally, R. F. Lafferty restated a “hold” rating and issued a $2.00 price target (down previously from $3.00) on shares of Fisker in a research note on Friday, March 1st.

Fisker Stock Down 28.1 %

FSR stock opened at $0.09 on Friday. The firm has a market cap of $31.44 million, a price-to-earnings ratio of -0.04 and a beta of 0.71. Fisker has a 1-year low of $0.09 and a 1-year high of $7.22. The firm has a fifty day moving average price of $0.20 and a two-hundred day moving average price of $1.42. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.68 and a quick ratio of 1.05.

Fisker (NYSE:FSR) last announced its quarterly earnings data 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). Fisker had a negative net margin of 278.72% and a negative return on equity of 110.93%. The business had revenue of $200.07 million for the quarter, compared to the consensus estimate of $332.66 million. Research analysts predict that Fisker will post -0.43 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FSR. Harbor Capital Advisors Inc. raised its holdings in shares of Fisker by 6.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 40,172 shares of the company’s stock worth $258,000 after purchasing an additional 2,290 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Fisker by 17.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 23,491 shares of the company’s stock worth $151,000 after acquiring an additional 3,450 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Fisker by 6.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 108,427 shares of the company’s stock worth $696,000 after acquiring an additional 6,427 shares in the last quarter. Swiss National Bank boosted its stake in shares of Fisker by 1.8% during the 3rd quarter. Swiss National Bank now owns 415,900 shares of the company’s stock worth $2,670,000 after acquiring an additional 7,300 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Fisker by 52.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,575 shares of the company’s stock worth $196,000 after acquiring an additional 10,584 shares in the last quarter. Institutional investors own 33.58% of the company’s stock.

Fisker Company Profile

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.