Bridgefront Capital LLC Buys Shares of 16,275 Fisker Inc. (NYSE:FSR)

Bridgefront Capital LLC purchased a new stake in shares of Fisker Inc. (NYSE:FSR – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,275 shares of the company’s stock, valued at approximately $123,000.

A number of other hedge funds have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Fisker during the third quarter valued at about $76,000. Balyasny Asset Management LLC acquired a new stake in shares of Fisker during the third quarter valued at about $4,890,000. Baird Financial Group Inc. acquired a new stake in shares of Fisker during the third quarter valued at about $922,000. UBS Asset Management Americas Inc. boosted its stake in shares of Fisker by 34.1% during the third quarter. UBS Asset Management Americas Inc. now owns 170,843 shares of the company’s stock valued at $1,290,000 after purchasing an additional 43,477 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Fisker by 3.3% during the third quarter. Vanguard Group Inc. now owns 13,752,473 shares of the company’s stock valued at $103,832,000 after purchasing an additional 437,940 shares in the last quarter. 28.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FSR. R. F. Lafferty cut their price target on Fisker from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, February 28th. Needham & Company LLC assumed coverage on Fisker in a research note on Tuesday, February 28th. They issued a “hold” rating on the stock. Morgan Stanley lowered Fisker from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $8.00 to $4.00 in a research note on Wednesday, January 25th. Evercore ISI assumed coverage on Fisker in a research note on Tuesday, November 29th. They issued an “outperform” rating and a $15.00 price objective on the stock. Finally, Barclays assumed coverage on Fisker in a research note on Tuesday, February 14th. They issued an “underweight” rating and a $6.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Fisker presently has a consensus rating of “Hold” and a consensus price target of $13.85.

Fisker Price Performance

Shares of FSR opened at $5.98 on Friday. Fisker Inc. has a 52-week low of $5.59 and a 52-week high of $14.74. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.51 and a current ratio of 2.51. The business’s 50 day moving average price is $7.09 and its two-hundred day moving average price is $7.47. The firm has a market cap of $1.91 billion, a PE ratio of -3.32 and a beta of 1.08.

Fisker (NYSE:FSR – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.14). The business had revenue of $0.31 million during the quarter, compared to analyst estimates of $1.02 million. Fisker had a negative net margin of 160,086.58% and a negative return on equity of 91.47%. Fisker’s quarterly revenue was up 646.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.47) earnings per share. On average, equities analysts anticipate that Fisker Inc. will post -1.07 EPS for the current year.

Fisker Profile

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Fisker, Inc engages in building a technology-enabled automotive business model, which involves vehicle development, customer experience, and sales and service. It also designs, develops, and manufactures eco-friendly electric vehicles. The company was founded by Henrik Fisker and Geeta Gupta-Fisker in 2016 is headquartered in Manhattan Beach, CA.