Raymond James Financial Services Advisors Inc. Boosts Stake in Fisker Inc. (NYSE:FSR)

Raymond James Financial Services Advisors Inc. boosted its holdings in Fisker Inc. (NYSE:FSR – Get Rating) by 6.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 260,358 shares of the company’s stock after purchasing an additional 14,874 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Fisker were worth $1,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toth Financial Advisory Corp boosted its stake in shares of 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 during the period. Belpointe Asset Management LLC bought a new stake in shares of Fisker during the 4th quarter valued at about $37,000. Captrust Financial Advisors lifted its holdings in Fisker by 34.3% in the first quarter. Captrust Financial Advisors now owns 4,390 shares of the company’s stock worth $57,000 after acquiring an additional 1,121 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Fisker in the first quarter valued at approximately $59,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Fisker in the 2nd quarter worth approximately $68,000. Institutional investors and hedge funds own 28.95% of the company’s stock.

Insider Buying and Selling

In related news, CTO Burkhard J. Huhnke sold 10,280 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The shares were 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 $151,173.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 45.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on FSR. Morgan Stanley downgraded Fisker from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $8.00 to $4.00 in a research note on Wednesday, January 25th. Barclays began coverage on Fisker in a research report on Tuesday, February 14th. They set an “underweight” rating and a $6.00 price objective for the company. R. F. Lafferty lowered their target price on Fisker from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, February 28th. Finally, Needham & Company LLC initiated coverage on Fisker in a research report on Tuesday, February 28th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.20.

Fisker Stock Performance

FSR opened at $6.79 on Thursday. 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 stock’s fifty day moving average is $5.77 and its 200-day moving average is $6.73. Fisker Inc. has a one year low of $4.26 and a one year high of $11.41.

Fisker (NYSE:FSR – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.52 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. Fisker’s revenue was up 1550.0% on a year-over-year basis. On average, equities research analysts forecast that Fisker Inc. will post -1.22 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.