Fisker (NYSE:FSR) Shares Down 28.2%

Fisker Inc. (NYSE:FSR)’s share price was down 28.2% during mid-day trading on Wednesday . The stock traded as low as $0.09 and last traded at $0.09. Approximately 62,229,286 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 167,012,320 shares. The stock had previously closed at $0.12.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FSR shares. TD Cowen lowered 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 report on Wednesday, January 17th. Evercore ISI reiterated an “in-line” rating and set a $2.00 price target (down previously from $6.00) on shares of Fisker in a research report on Monday, December 4th. The Goldman Sachs Group cut their price objective on shares of Fisker from $2.00 to $1.00 and set a “sell” rating on the stock in a report on Monday, December 4th. Barclays lowered their target price on shares of Fisker from $4.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, January 24th. Finally, Citigroup reissued a “neutral” rating and issued a $0.80 price target (down previously from $4.00) on shares of Fisker in a research note on Friday, March 1st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.76.

Fisker Trading Down 28.2 %

The company’s fifty day simple moving average is $0.55 and its two-hundred day simple moving average is $2.53. The company 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 quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 3.28.

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

Hedge Funds Weigh In On Fisker

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors raised its holdings in shares of Fisker by 34.3% during the first quarter. Captrust Financial Advisors now owns 4,390 shares of the company’s stock worth $57,000 after acquiring an additional 1,121 shares during the period. Penserra Capital Management LLC increased its holdings in Fisker by 8.2% during the 1st quarter. Penserra Capital Management LLC now owns 17,242 shares of the company’s stock worth $220,000 after purchasing an additional 1,308 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Fisker by 13.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 12,693 shares of the company’s stock valued at $164,000 after purchasing an additional 1,464 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Fisker by 20.6% in the second quarter. Tower Research Capital LLC TRC now owns 10,572 shares of the company’s stock valued at $60,000 after purchasing an additional 1,809 shares in the last quarter. Finally, High Net Worth Advisory Group LLC boosted its position in shares of Fisker by 57.1% during the first quarter. High Net Worth Advisory Group LLC now owns 5,500 shares of the company’s stock worth $71,000 after buying an additional 2,000 shares during the period. Institutional investors own 33.58% of the company’s stock.

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.