Fisker Inc. (NYSE:FSR) dropped 6.6% on Tuesday . The company traded as low as $17.07 and last traded at $17.13. Approximately 381,596 shares were traded during trading, a decline of 97% from the average daily volume of 14,888,605 shares. The stock had previously closed at $18.35.
Several research analysts have recently commented on FSR shares. The Goldman Sachs Group reiterated a “sell” rating and set a $10.00 price target (down previously from $15.00) on shares of Fisker in a report on Wednesday, April 28th. Morgan Stanley increased their price target on shares of Fisker from $27.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 26th. Barclays initiated coverage on Fisker in a report on Thursday, April 1st. They issued an “equal weight” rating and a $17.00 price objective on the stock. R. F. Lafferty started coverage on Fisker in a research note on Wednesday, February 17th. They set a “buy” rating and a $23.00 target price for the company. Finally, Wolfe Research upgraded Fisker from an “underperform” rating to a “peer perform” rating and increased their price target for the stock from $21.00 to $30.00 in a report on Tuesday, March 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Fisker presently has an average rating of “Buy” and an average target price of $26.36.
The firm’s fifty day simple moving average is $13.82. The company has a market cap of $5.24 billion, a price-to-earnings ratio of -44.35 and a beta of 0.95.
Fisker (NYSE:FSR) last released its quarterly earnings data on Sunday, May 16th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.08. Equities research analysts forecast that Fisker Inc. will post -0.85 earnings per share for the current year.
In other news, CFO Geeta Gupta sold 561,956 shares of the business’s stock in a transaction dated Friday, June 11th. The shares were sold at an average price of $17.83, for a total transaction of $10,019,675.48. Also, CEO Henrik Fisker sold 22,000 shares of the stock in a transaction dated Friday, June 11th. The stock was sold at an average price of $18.70, for a total transaction of $411,400.00. The disclosure for this sale can be found here. 46.57% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP purchased a new stake in shares of Fisker in the fourth quarter valued at approximately $1,614,000. Vontobel Holding Ltd. purchased a new stake in shares of Fisker during the 1st quarter worth $3,205,000. Advisory Services Network LLC acquired a new position in shares of Fisker during the 4th quarter worth $48,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Fisker in the 1st quarter valued at about $827,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Fisker in the fourth quarter valued at about $149,000. 24.05% of the stock is owned by institutional investors and hedge funds.
About Fisker (NYSE:FSR)
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.