Swiss National Bank Purchases 10,800 Shares of Fisker Inc. (NYSE:FSR)

Swiss National Bank lifted its holdings in Fisker Inc. (NYSE:FSR – Get Rating) by 2.8% in the fourth quarter, Holdings Channel reports. The fund owned 401,700 shares of the company’s stock after purchasing an additional 10,800 shares during the quarter. Swiss National Bank’s holdings in Fisker were worth $2,920,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FSR. Vanguard Group Inc. raised its position in Fisker by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,752,473 shares of the company’s stock worth $103,832,000 after purchasing an additional 437,940 shares during the period. BlackRock Inc. raised its position in Fisker by 0.3% in the 3rd quarter. BlackRock Inc. now owns 10,276,634 shares of the company’s stock worth $77,587,000 after purchasing an additional 28,475 shares during the period. State Street Corp raised its position in Fisker by 2.2% in the 1st quarter. State Street Corp now owns 3,387,352 shares of the company’s stock worth $43,697,000 after purchasing an additional 74,115 shares during the period. Lazard Asset Management LLC raised its position in Fisker by 178.2% in the 3rd quarter. Lazard Asset Management LLC now owns 2,026,228 shares of the company’s stock worth $15,298,000 after purchasing an additional 1,297,909 shares during the period. Finally, Whitebox Advisors LLC raised its position in Fisker by 366.8% in the 3rd quarter. Whitebox Advisors LLC now owns 1,867,300 shares of the company’s stock worth $14,099,000 after purchasing an additional 2,567,300 shares during the period. Institutional investors own 28.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. R. F. Lafferty reduced their target price 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. 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. Barclays assumed coverage on shares of Fisker in a research report on Tuesday, February 14th. They set an “underweight” rating and a $6.00 target price on the stock. Finally, Morgan Stanley lowered shares of Fisker from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $4.00 in a research report on Wednesday, January 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.20.

Fisker Price Performance

NYSE FSR opened at $6.69 on Wednesday. The firm’s fifty day simple moving average is $5.76 and its two-hundred day simple moving average is $6.73. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.62. Fisker Inc. has a 12-month low of $4.26 and a 12-month high of $11.41. The firm has a market capitalization of $2.21 billion, a P/E ratio of -3.78 and a beta of 1.04.

Fisker (NYSE:FSR – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($0.38) earnings per share (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 firm had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $2.52 million. During the same period in the prior year, the firm posted ($0.41) earnings per share. Fisker’s revenue for the quarter was up 1550.0% compared to the same quarter last year. Analysts forecast that Fisker Inc. will post -1.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fisker news, CTO Burkhard J. Huhnke sold 10,280 shares of Fisker stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $5.93, for a total value of $60,960.40. Following the transaction, the chief technology officer now directly owns 25,493 shares of the company’s stock, valued at $151,173.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 45.75% of the company’s stock.

About Fisker

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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.