Fisker (NYSE:FSR) Price Target Lowered to $17.00 at R. F. Lafferty

Fisker (NYSE:FSRGet Rating) had its price objective lowered by R. F. Lafferty from $21.00 to $17.00 in a report published on Friday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on FSR. Tudor, Pickering, Holt & Co. cut shares of Fisker from a buy rating to a hold rating and reduced their target price for the company from $25.00 to $13.00 in a report on Wednesday, May 25th. Exane BNP Paribas started coverage on shares of Fisker in a research report on Monday, April 11th. They set an outperform rating on the stock. Morgan Stanley lowered shares of Fisker from an overweight rating to an equal weight rating and lowered their target price for the stock from $15.00 to $10.00 in a research report on Friday. Credit Suisse Group lowered 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, Cowen decreased their price target on Fisker from $28.00 to $19.00 in a report on Thursday, May 5th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Fisker presently has a consensus rating of Moderate Buy and an average target price of $17.82.

Fisker Trading Down 2.0 %

Shares of FSR opened at $10.17 on Friday. Fisker has a 1 year low of $7.95 and a 1 year high of $23.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 9.12 and a quick ratio of 9.12. The company’s 50-day simple moving average is $9.30 and its 200-day simple moving average is $10.75.

Fisker (NYSE:FSRGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. Fisker had a negative return on equity of 59.84% and a negative net margin of 610,674.38%. The firm’s revenue for the quarter was down 45.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) EPS. On average, research analysts forecast that Fisker will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FSR. FIFTHDELTA Ltd raised its stake in shares of Fisker by 68.2% during the 1st quarter. FIFTHDELTA Ltd now owns 5,714,947 shares of the company’s stock worth $73,723,000 after buying an additional 2,317,444 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Fisker by 74.2% during the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,142,283 shares of the company’s stock worth $49,428,000 after buying an additional 1,338,923 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Fisker by 27.3% during the 4th quarter. Alliancebernstein L.P. now owns 6,166,486 shares of the company’s stock worth $96,999,000 after buying an additional 1,321,605 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in Fisker during the 1st quarter worth about $7,357,000. Finally, Renaissance Technologies LLC purchased a new stake in Fisker during the 1st quarter worth about $5,903,000. Institutional investors and hedge funds own 28.77% of the company’s stock.

Fisker Company Profile

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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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