Fisker (NYSE:FSR) Lowered to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of Fisker (NYSE:FSR – Get Rating) from an overweight rating to an equal weight rating in a research note published on Friday morning, MarketBeat.com reports. Morgan Stanley currently has $10.00 price objective on the stock, down from their previous price objective of $15.00.

FSR has been the subject of a number of other reports. Tudor, Pickering, Holt & Co. cut shares of Fisker from a buy rating to a hold rating and reduced their target price for the stock from $25.00 to $13.00 in a report on Wednesday, May 25th. Exane BNP Paribas started coverage on shares of Fisker in a report on Monday, April 11th. They set an outperform rating for the company. Cowen decreased their price objective on shares of Fisker from $28.00 to $19.00 in a research note on Thursday, May 5th. Barclays decreased their price objective on shares of Fisker from $16.00 to $14.00 and set an equal weight rating for the company in a research note on Thursday, May 5th. Finally, Citigroup raised their price objective on shares of Fisker from $27.00 to $28.00 in a research note on Thursday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $17.82.

Fisker Trading Down 2.0 %

NYSE FSR opened at $10.17 on Friday. Fisker has a 12 month low of $7.95 and a 12 month high of $23.75. The company has a current ratio of 9.12, a quick ratio of 9.12 and a debt-to-equity ratio of 0.96. The company’s 50 day simple moving average is $9.30 and its 200 day simple moving average is $10.75.

Fisker (NYSE:FSR – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.01 million. Fisker had a negative return on equity of 59.84% and a negative net margin of 610,674.38%. The company’s quarterly revenue was down 45.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share. On average, analysts anticipate that Fisker will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Fisker

A number of institutional investors have recently modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Fisker during the 4th quarter valued at $31,000. Mine & Arao Wealth Creation & Management LLC. bought a new position in Fisker in the 4th quarter worth $33,000. Burleson & Company LLC raised its holdings in Fisker by 40.2% in the 2nd quarter. Burleson & Company LLC now owns 4,312 shares of the company’s stock worth $37,000 after acquiring an additional 1,236 shares during the period. Nisa Investment Advisors LLC raised its holdings in Fisker by 140.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 4,250 shares of the company’s stock worth $55,000 after acquiring an additional 2,480 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Fisker by 34.3% in the 1st 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 period. Institutional investors and hedge funds own 28.77% of the company’s stock.

Fisker Company Profile

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