Fisker Inc. (NYSE:FSR) Given Average Rating of “Reduce” by Analysts

Fisker Inc. (NYSE:FSR) has been assigned an average rating of “Reduce” from the nine research firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $2.76.

A number of research analysts have recently commented on the stock. R. F. Lafferty reaffirmed a “hold” rating and set a $2.00 price objective (down previously from $3.00) on shares of Fisker in a research report on Friday, March 1st. Citigroup reaffirmed a “neutral” rating and issued a $0.80 price target (down previously from $4.00) on shares of Fisker in a report on Friday, March 1st. TD Cowen downgraded Fisker from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $11.00 to $1.00 in a research report on Wednesday, January 17th. Finally, Barclays lowered their price objective on Fisker from $4.00 to $1.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 24th.

Fisker Stock Down 28.1 %

FSR opened at $0.09 on Friday. The business has a 50 day moving average of $0.25 and a 200-day moving average of $1.60. The stock has a market capitalization of $31.44 million, a price-to-earnings ratio of -0.04 and a beta of 0.71. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 3.28. Fisker has a 1-year low of $0.09 and a 1-year high of $7.22.

Fisker (NYSE:FSR) last released its earnings results 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 net margin of 278.72% and a negative return on equity of 110.93%. The company had revenue of $200.07 million for the quarter, compared to analyst estimates of $332.66 million. As a group, sell-side analysts anticipate that Fisker will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Fisker

Hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in Fisker in the fourth quarter valued at $666,000. Virtu Financial LLC grew its holdings in shares of Fisker by 303.3% in the 4th quarter. Virtu Financial LLC now owns 139,316 shares of the company’s stock worth $244,000 after purchasing an additional 104,768 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Fisker by 233.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 43,514 shares of the company’s stock worth $76,000 after purchasing an additional 30,456 shares in the last quarter. Steward Partners Investment Solutions LLC bought a new position in Fisker during the 4th quarter valued at about $103,000. Finally, FIFTHDELTA Ltd boosted its position in Fisker by 140.5% in the fourth quarter. FIFTHDELTA Ltd now owns 19,311,697 shares of the company’s stock valued at $33,795,000 after buying an additional 11,281,121 shares in the last quarter. 33.58% of the stock is owned by institutional investors and hedge funds.

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.