Jacobi Capital Management LLC Trims Holdings in Fisker Inc. (NYSE:FSR)

Jacobi Capital Management LLC cut its stake in Fisker Inc. (NYSE:FSR) by 85.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. 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 quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. tru Independence LLC purchased a new position in shares of Fisker in the fourth quarter valued at $14,655,000. NEXT Financial Group Inc purchased a new position in shares of Fisker in the fourth quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Fisker during the fourth quarter worth about $29,000. Arkadios Wealth Advisors grew its position in Fisker by 892.5% during the first quarter. Arkadios Wealth Advisors now owns 1,985 shares of the company’s stock worth $34,000 after buying an additional 1,785 shares in the last quarter. Finally, American National Bank purchased a new position in Fisker during the first quarter worth about $41,000. Institutional investors own 24.05% of the company’s stock.

FSR has been the subject of several recent analyst reports. Zacks Investment Research cut Fisker from a “hold” rating to a “sell” rating in a research report on Thursday, May 20th. Morgan Stanley boosted their target price on Fisker from $27.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, February 26th. Bank of America began coverage on Fisker in a research report on Tuesday, April 20th. They set a “buy” rating and a $31.00 target price for the company. R. F. Lafferty began coverage on Fisker in a research note on Wednesday, February 17th. They set a “buy” rating and a $23.00 price target for the company. Finally, Cowen lifted their price target on Fisker from $22.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, February 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.36.

NYSE FSR opened at $17.60 on Friday. Fisker Inc. has a 1-year low of $8.70 and a 1-year high of $31.96. The firm has a 50-day moving average of $13.56. The company has a market cap of $5.20 billion, a price-to-earnings ratio of -44.00 and a beta of 0.95.

Fisker (NYSE:FSR) last released its earnings results on Sunday, May 16th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.08. As a group, research analysts expect that Fisker Inc. will post -0.85 EPS for the current year.

In other Fisker news, major shareholder Energy Acquisition Spo Spartan sold 793,570 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $22.63, for a total transaction of $17,958,489.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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