Fisker (NYSE:FSR) Rating Lowered to Underweight at Morgan Stanley

Fisker (NYSE:FSRGet Rating) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued on Wednesday, The Fly reports.

Several other analysts also recently issued reports on the company. Evercore ISI assumed coverage on Fisker in a report on Tuesday, November 29th. They issued an “outperform” rating and a $15.00 price target for the company. Needham & Company LLC lowered their price target on Fisker from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, October 20th. Finally, Royal Bank of Canada downgraded Fisker from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $13.00 to $8.00 in a report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.92.

Fisker Trading Down 0.3 %

Shares of FSR opened at $7.30 on Wednesday. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $2.28 billion, a P/E ratio of -4.22 and a beta of 1.10. The stock’s fifty day simple moving average is $7.31 and its 200 day simple moving average is $8.08. Fisker has a twelve month low of $6.41 and a twelve month high of $14.74.

Fisker (NYSE:FSRGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Fisker had a negative net margin of 669,901.25% and a negative return on equity of 75.88%. The company had revenue of $0.01 million during the quarter. On average, equities research analysts forecast that Fisker will post -1.64 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Henrik Fisker purchased 33,700 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was acquired at an average cost of $7.42 per share, for a total transaction of $250,054.00. Following the completion of the purchase, the chief executive officer now owns 629,218 shares of the company’s stock, valued at $4,668,797.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders bought 35,505 shares of company stock worth $263,208. Corporate insiders own 45.75% of the company’s stock.

Hedge Funds Weigh In On Fisker

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Fisker by 3.3% in the third 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 in the last quarter. BlackRock Inc. lifted its holdings in Fisker by 0.3% in the third quarter. BlackRock Inc. now owns 10,276,634 shares of the company’s stock worth $77,587,000 after acquiring an additional 28,475 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Fisker by 20.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,010,000 shares of the company’s stock worth $34,366,000 after acquiring an additional 667,499 shares during the last quarter. State Street Corp lifted its holdings in Fisker by 2.2% in the first quarter. State Street Corp now owns 3,387,352 shares of the company’s stock worth $43,697,000 after acquiring an additional 74,115 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Fisker by 178.2% during the third quarter. Lazard Asset Management LLC now owns 2,026,228 shares of the company’s stock valued at $15,298,000 after buying an additional 1,297,909 shares during the last quarter. 28.95% of the stock is currently owned by institutional investors and hedge funds.

Fisker Company Profile

(Get Rating)

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.

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Analyst Recommendations for Fisker (NYSE:FSR)

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