National Asset Management Inc. lowered its holdings in Fisker Inc. (NYSE:FSR – Get Rating) by 11.3% during the first quarter, HoldingsChannel.com reports. The fund owned 12,500 shares of the company’s stock after selling 1,585 shares during the period. National Asset Management Inc.’s holdings in Fisker were worth $162,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. bought a new stake in Fisker during the fourth quarter worth about $31,000. Mine & Arao Wealth Creation & Management LLC. bought a new stake in Fisker during the fourth quarter worth about $33,000. Nisa Investment Advisors LLC grew its stake in Fisker by 140.1% during the first quarter. Nisa Investment Advisors LLC now owns 4,250 shares of the company’s stock worth $55,000 after buying an additional 2,480 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in Fisker during the first quarter worth about $81,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Fisker during the fourth quarter worth about $144,000. Institutional investors own 28.77% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the stock. Tudor, Pickering, Holt & Co. cut shares of Fisker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $13.00 in a research note on Wednesday, May 25th. Morgan Stanley decreased their price objective on shares of Fisker from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, July 14th. Citigroup reduced their target price on shares of Fisker from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 5th. Credit Suisse Group reduced their target price on shares of Fisker from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 17th. Finally, Tudor Pickering lowered shares of Fisker from a “buy” rating to a “hold” rating and reduced their target price for the stock from $25.00 to $13.00 in a research report on Wednesday, May 25th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.30.
Fisker Stock Down 1.7 %
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). Fisker had a negative net margin of 438,496.81% and a negative return on equity of 48.47%. The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. During the same period last year, the business posted ($0.11) EPS. The firm’s revenue for the quarter was down 45.5% on a year-over-year basis. Research analysts anticipate that Fisker Inc. will post -1.68 earnings per share for the current fiscal year.
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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