Fisker Target of Unusually Large Options Trading (NYSE:FSR)

Fisker Inc. (NYSE:FSRGet Rating) was the target of unusually large options trading on Friday. Traders acquired 38,926 put options on the company. This is an increase of 47% compared to the typical daily volume of 26,470 put options.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Tudor, Pickering, Holt & Co. lowered Fisker from a “buy” rating to a “hold” rating and lowered their price target for the company from $25.00 to $13.00 in a research report on Wednesday, May 25th. Cowen dropped their price target on shares of Fisker from $28.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, May 5th. Barclays reduced their price objective on shares of Fisker from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, May 5th. Exane BNP Paribas assumed coverage on shares of Fisker in a research note on Monday, April 11th. They issued an “outperform” rating for the company. Finally, Morgan Stanley downgraded Fisker from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $15.00 to $10.00 in a research note on Friday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.82.

Fisker Price Performance

Shares of NYSE FSR opened at $10.17 on Friday. The company has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $10.75. Fisker has a fifty-two week low of $7.95 and a fifty-two week high of $23.75. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -6.32 and a beta of 1.08. The company has a debt-to-equity ratio of 0.96, a quick ratio of 9.12 and a current ratio of 9.12.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. lifted its holdings in shares of Fisker by 14.9% during the 4th quarter. Citigroup Inc. now owns 62,563 shares of the company’s stock valued at $984,000 after buying an additional 8,129 shares during the period. Alpha Paradigm Partners LLC bought a new position in Fisker in the fourth quarter valued at about $408,000. Panagora Asset Management Inc. purchased a new position in Fisker in the fourth quarter worth about $166,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew 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 valued at $49,428,000 after purchasing an additional 1,338,923 shares during the period. Finally, Alliancebernstein L.P. increased its position 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 valued at $96,999,000 after purchasing an additional 1,321,605 shares during the last quarter. 28.77% of the stock is owned by institutional investors.

About Fisker

(Get Rating)

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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