Arizona State Retirement System Increases Stock Holdings in Fisker Inc. (NYSE:FSR)

Arizona State Retirement System lifted its position in Fisker Inc. (NYSE:FSR – Get Rating) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,940 shares of the company’s stock after buying an additional 2,140 shares during the quarter. Arizona State Retirement System’s holdings in Fisker were worth $341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSR. Toth Financial Advisory Corp raised its stake in Fisker by 126.7% in the fourth quarter. Toth Financial Advisory Corp now owns 3,400 shares of the company’s stock valued at $25,000 after purchasing an additional 1,900 shares in the last quarter. Captrust Financial Advisors raised its stake in Fisker by 34.3% in the first quarter. Captrust Financial Advisors now owns 4,390 shares of the company’s stock valued at $57,000 after purchasing an additional 1,121 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Fisker in the first quarter valued at approximately $59,000. Point72 Hong Kong Ltd purchased a new stake in Fisker in the second quarter valued at approximately $68,000. Finally, High Net Worth Advisory Group LLC raised its stake in Fisker by 57.1% in the first quarter. High Net Worth Advisory Group LLC now owns 5,500 shares of the company’s stock valued at $71,000 after purchasing an additional 2,000 shares in the last quarter. 28.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSR has been the topic of a number of recent analyst reports. Morgan Stanley downgraded shares of Fisker from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $8.00 to $4.00 in a research note on Wednesday, January 25th. R. F. Lafferty reduced their price target on shares of Fisker from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, February 28th. Barclays assumed coverage on shares of Fisker in a research report on Tuesday, February 14th. They set an “underweight” rating and a $6.00 price target on the stock. Finally, Needham & Company LLC assumed coverage on shares of Fisker in a research report on Tuesday, February 28th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.20.

Fisker Price Performance

FSR opened at $6.17 on Monday. The stock has a 50-day moving average price of $5.74 and a 200-day moving average price of $6.75. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market cap of $2.04 billion, a PE ratio of -3.49 and a beta of 1.04. Fisker Inc. has a 1 year low of $4.26 and a 1 year high of $11.59.

Fisker (NYSE:FSR – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.10). Fisker had a negative return on equity of 103.57% and a negative net margin of 103,404.73%. The business had revenue of $0.20 million during the quarter, compared to the consensus estimate of $2.52 million. During the same quarter in the previous year, the business posted ($0.41) earnings per share. Fisker’s quarterly revenue was up 1550.0% compared to the same quarter last year. Sell-side analysts predict that Fisker Inc. will post -1.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fisker news, CTO Burkhard J. Huhnke sold 10,280 shares of the business’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $5.93, for a total transaction of $60,960.40. Following the completion of the sale, the chief technology officer now directly owns 25,493 shares in the company, valued at approximately $151,173.49. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 45.75% of the stock is owned by corporate insiders.

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.