Swiss National Bank Lowers Holdings in Fisker Inc. (NYSE:FSR)

Swiss National Bank decreased its holdings in Fisker Inc. (NYSE:FSR) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 387,600 shares of the company’s stock after selling 14,100 shares during the quarter. Swiss National Bank owned 0.12% of Fisker worth $2,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FSR. Mizuho Markets Americas LLC boosted its stake in shares of Fisker by 4,066.8% in the first quarter. Mizuho Markets Americas LLC now owns 3,568,961 shares of the company’s stock valued at $193,902,000 after purchasing an additional 3,483,308 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Fisker by 21.0% in the fourth quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 6,112,857 shares of the company’s stock valued at $44,440,000 after purchasing an additional 1,061,092 shares during the period. Balyasny Asset Management LLC purchased a new position in shares of Fisker in the third quarter valued at approximately $4,890,000. Cartenna Capital LP purchased a new position in shares of Fisker in the fourth quarter valued at approximately $3,817,000. Finally, Mizuho Markets Cayman LP boosted its stake in shares of Fisker by 4,874.0% in the first quarter. Mizuho Markets Cayman LP now owns 497,397 shares of the company’s stock valued at $3,054,000 after purchasing an additional 487,397 shares during the period. Hedge funds and other institutional investors own 33.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FSR shares. Wolfe Research cut shares of Fisker from a “peer perform” rating to an “underperform” rating and set a $6.00 target price on the stock. in a report on Thursday, June 8th. Barclays cut their price objective on shares of Fisker from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Tuesday, August 8th. R. F. Lafferty cut their price objective on shares of Fisker from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, August 7th. TD Cowen cut their target price on shares of Fisker from $19.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, July 17th. Finally, Citigroup cut their target price on shares of Fisker from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.56.

Fisker Price Performance

Fisker stock opened at $6.12 on Wednesday. Fisker Inc. has a 52 week low of $4.26 and a 52 week high of $10.02. The company has a quick ratio of 1.15, a current ratio of 1.44 and a debt-to-equity ratio of 1.56. The firm’s 50-day simple moving average is $5.98 and its 200 day simple moving average is $5.99. The firm has a market capitalization of $2.10 billion, a PE ratio of -3.69 and a beta of 1.00.

Fisker (NYSE:FSR) last released its quarterly earnings data on Friday, August 4th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.06. Fisker had a negative net margin of 39,127.70% and a negative return on equity of 109.16%. The business had revenue of $0.83 million for the quarter, compared to analyst estimates of $20.40 million. During the same period in the previous year, the firm earned ($0.36) EPS. On average, equities research analysts predict that Fisker Inc. will post -0.89 EPS for the current fiscal year.

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.