Fisker (NYSE:FSR) Stock Price Down 28.2%

Fisker Inc. (NYSE:FSR)’s stock price dropped 28.2% during trading on Thursday . The company traded as low as $0.09 and last traded at $0.09. Approximately 62,229,286 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 167,012,320 shares. The stock had previously closed at $0.12.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FSR. Evercore ISI reissued an “in-line” rating and set a $2.00 target price (down from $6.00) on shares of Fisker in a research note on Monday, December 4th. Barclays reduced their target price on shares of Fisker from $4.00 to $1.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 24th. The Goldman Sachs Group dropped their price objective on Fisker from $2.00 to $1.00 and set a “sell” rating on the stock in a research note on Monday, December 4th. Citigroup reissued a “neutral” rating and set a $0.80 price target (down previously from $4.00) on shares of Fisker in a research report on Friday, March 1st. Finally, R. F. Lafferty reaffirmed a “hold” rating and issued a $2.00 price objective (down from $3.00) on shares of Fisker in a research note on Friday, March 1st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.76.

Fisker Stock Performance

The company has a market capitalization of $31.43 million, a price-to-earnings ratio of -0.04 and a beta of 0.71. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.68 and a quick ratio of 1.05. The stock has a 50 day simple moving average of $0.56 and a two-hundred day simple moving average of $2.55.

Fisker (NYSE:FSR) last released its earnings results on Thursday, February 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.19). The company had revenue of $200.07 million during the quarter, compared to analyst estimates of $332.66 million. Fisker had a negative net margin of 278.72% and a negative return on equity of 110.93%. As a group, analysts anticipate that Fisker Inc. will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Baader Bank Aktiengesellschaft purchased a new position in Fisker in the 4th quarter worth approximately $29,000. RVW Wealth LLC acquired a new stake in Fisker during the 3rd quarter valued at $36,000. Russell Investments Group Ltd. increased its stake in Fisker by 420.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,138 shares of the company’s stock worth $44,000 after buying an additional 6,574 shares during the period. Jacobi Capital Management LLC acquired a new stake in shares of Fisker during the fourth quarter valued at about $46,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Fisker by 293.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,856 shares of the company’s stock worth $50,000 after acquiring an additional 5,112 shares in the last quarter. Hedge funds and other institutional investors own 33.58% of the company’s stock.

Fisker Company Profile

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.