Brokerages Set Fisker Inc. (NYSE:FSR) Price Target at $2.76

Shares of Fisker Inc. (NYSE:FSR) have earned a consensus rating of “Reduce” from the nine analysts that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $2.76.

A number of brokerages have recently issued reports on FSR. Citigroup reissued a “neutral” rating and issued a $0.80 price objective (down from $4.00) on shares of Fisker in a research note on Friday, March 1st. TD Cowen downgraded Fisker from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $11.00 to $1.00 in a research report on Wednesday, January 17th. Barclays cut their price target on Fisker from $4.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, January 24th. Finally, R. F. Lafferty reaffirmed a “hold” rating and set a $2.00 price objective (down from $3.00) on shares of Fisker in a report on Friday, March 1st.

Fisker Trading Down 28.1 %

Shares of FSR stock opened at $0.09 on Wednesday. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.68 and a quick ratio of 1.05. The company has a market cap of $31.44 million, a price-to-earnings ratio of -0.04 and a beta of 0.71. Fisker has a 1 year low of $0.09 and a 1 year high of $7.22. The firm has a fifty day moving average price of $0.46 and a 200-day moving average price of $2.26.

Fisker (NYSE:FSR) last released its earnings results on Thursday, February 29th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.19). The company had revenue of $200.07 million for the quarter, compared to analysts’ expectations of $332.66 million. Fisker had a negative net margin of 278.72% and a negative return on equity of 110.93%. As a group, equities analysts predict that Fisker will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Fisker

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in Fisker during the 4th quarter valued at $666,000. Vanguard Group Inc. raised its stake in shares of Fisker by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 19,856,791 shares of the company’s stock valued at $34,749,000 after acquiring an additional 918,802 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Fisker by 29.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,370,595 shares of the company’s stock valued at $2,399,000 after acquiring an additional 311,838 shares during the period. Virtu Financial LLC lifted its holdings in shares of Fisker by 303.3% in the 4th quarter. Virtu Financial LLC now owns 139,316 shares of the company’s stock worth $244,000 after acquiring an additional 104,768 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Fisker by 29.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 142,187 shares of the company’s stock worth $249,000 after purchasing an additional 32,318 shares during the period. Hedge funds and other institutional investors own 33.58% of the company’s stock.

About Fisker

Fisker Inc develops, manufactures, markets, leases, or sells electric vehicles. It operates through three segments: The White Space, The Value Segment, and The Conservative Premium segments. The company is also involved in asset-light automotive business. In addition, it offers fisker flexible platform agnostic design, a process that develops and designs electric vehicles in specific segment size.