Fisker (NYSE:FSR) Cut to “Hold” at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. lowered shares of Fisker (NYSE:FSR – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat.com reports. Tudor, Pickering, Holt & Co. currently has $13.00 price objective on the stock, down from their previous price objective of $25.00.

FSR has been the subject of a number of other research reports. Exane BNP Paribas initiated coverage on shares of Fisker in a research note on Monday, April 11th. They issued an outperform rating for the company. Royal Bank of Canada cut their price target on shares of Fisker from $26.00 to $19.00 and set an outperform rating for the company in a research note on Thursday, February 17th. BNP Paribas initiated coverage on shares of Fisker in a research note on Monday, April 11th. They issued an outperform rating for the company. Cowen cut their price target on shares of Fisker from $28.00 to $19.00 in a research note on Thursday, May 5th. Finally, Citigroup cut their price target on shares of Fisker from $29.00 to $27.00 and set a buy rating for the company in a research note on Thursday, May 5th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Fisker has an average rating of Buy and a consensus target price of $18.80.

Fisker stock opened at $10.75 on Wednesday. Fisker has a 1-year low of $8.04 and a 1-year high of $23.75. The company has a fifty day simple moving average of $11.35 and a 200 day simple moving average of $13.74. The company has a quick ratio of 9.12, a current ratio of 9.12 and a debt-to-equity ratio of 0.96.

Fisker (NYSE:FSR – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. Fisker had a negative net margin of 438,496.81% and a negative return on equity of 48.47%. The firm’s revenue for the quarter was down 45.5% on a year-over-year basis. During the same period last year, the business posted ($0.11) EPS. On average, equities analysts expect that Fisker will post -1.68 earnings per share for the current fiscal year.

In other Fisker news, Director Mitchell Zuklie purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, March 9th. The shares were acquired at an average cost of $11.36 per share, with a total value of $56,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John C. Iv Finnucan sold 3,548 shares of the firm’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $11.00, for a total transaction of $39,028.00. The disclosure for this sale can be found here. Company insiders own 24.95% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Toroso Investments LLC increased its position in Fisker by 28.7% during the first quarter. Toroso Investments LLC now owns 38,079 shares of the company’s stock worth $491,000 after acquiring an additional 8,491 shares during the period. Advisors Asset Management Inc. increased its holdings in Fisker by 83.1% in the 1st quarter. Advisors Asset Management Inc. now owns 27,461 shares of the company’s stock valued at $354,000 after buying an additional 12,460 shares during the period. Quantamental Technologies LLC bought a new position in Fisker in the 1st quarter valued at about $214,000. Quinn Opportunity Partners LLC bought a new position in Fisker in the 1st quarter valued at about $258,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Fisker in the 1st quarter valued at about $692,000. 28.77% of the stock is currently owned by institutional investors and hedge funds.

Fisker Company Profile (Get Rating)

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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