Fisker (NYSE:FSR) Issues Earnings Results

Fisker (NYSE:FSRGet Rating) released its quarterly earnings data on Wednesday. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02), MarketWatch Earnings reports. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.01 million. Fisker had a negative return on equity of 45.26% and a negative net margin of 438,496.81%. The company’s revenue for the quarter was down 45.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share.

NYSE FSR traded up $0.12 during trading on Friday, hitting $10.02. 9,427,170 shares of the company’s stock were exchanged, compared to its average volume of 4,894,898. The company has a current ratio of 10.98, a quick ratio of 10.98 and a debt-to-equity ratio of 0.82. The company has a market cap of $2.97 billion, a PE ratio of -7.11 and a beta of 1.00. Fisker has a fifty-two week low of $9.61 and a fifty-two week high of $23.75. The stock’s 50 day moving average price is $11.74 and its two-hundred day moving average price is $14.44.

In other news, Director Mitchell Zuklie acquired 5,000 shares of the stock in a transaction dated Wednesday, March 9th. The stock was bought at an average price of $11.36 per share, with a total value of $56,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Burkhard J. Huhnke sold 6,639 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $11.00, for a total value of $73,029.00. The disclosure for this sale can be found here. Corporate insiders own 24.95% of the company’s stock.

Several large investors have recently modified their holdings of FSR. BlackRock Inc. increased its position in shares of Fisker by 13.1% during the 4th quarter. BlackRock Inc. now owns 11,034,890 shares of the company’s stock valued at $173,579,000 after purchasing an additional 1,277,005 shares during the last quarter. Norges Bank bought a new position in Fisker in the 4th quarter worth about $11,273,000. Morgan Stanley raised its holdings in shares of Fisker by 22.9% during the 2nd quarter. Morgan Stanley now owns 3,152,055 shares of the company’s stock valued at $60,772,000 after buying an additional 586,334 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Fisker by 1,623.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 161,914 shares of the company’s stock valued at $2,547,000 after buying an additional 152,520 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Fisker by 103.2% during the 4th quarter. Parametric Portfolio Associates LLC now owns 204,356 shares of the company’s stock valued at $3,215,000 after buying an additional 103,780 shares in the last quarter. 28.77% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on FSR shares. Exane BNP Paribas started coverage on Fisker in a research note on Monday, April 11th. They issued an “outperform” rating for the company. BNP Paribas started coverage on Fisker in a research note on Monday, April 11th. They issued an “outperform” rating for the company. Zacks Investment Research raised Fisker from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. Cowen dropped their price target on Fisker from $28.00 to $19.00 in a research note on Thursday. Finally, Credit Suisse Group dropped their price target on Fisker from $32.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $22.50.

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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Earnings History for Fisker (NYSE:FSR)

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