Penserra Capital Management LLC Has $96,000 Stock Holdings in Fisker Inc. (NYSE:FSR)

Posted by Defense World Staff on Feb 28th, 2023

Penserra Capital Management LLC reduced its holdings in Fisker Inc. (NYSE:FSR – Get Rating) by 36.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,780 shares of the company’s stock after selling 7,470 shares during the quarter. Penserra Capital Management LLC’s holdings in Fisker were worth $96,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new stake in shares of Fisker in the third quarter worth $109,000. ExodusPoint Capital Management LP increased its stake in shares of Fisker by 721.9% in the third quarter. ExodusPoint Capital Management LP now owns 264,255 shares of the company’s stock valued at $1,995,000 after buying an additional 232,104 shares during the period. Advisors Asset Management Inc. raised its position in shares of Fisker by 17.1% during the third quarter. Advisors Asset Management Inc. now owns 32,911 shares of the company’s stock worth $248,000 after acquiring an additional 4,810 shares during the last quarter. Creative Planning lifted its stake in shares of Fisker by 14.9% in the third quarter. Creative Planning now owns 29,148 shares of the company’s stock worth $220,000 after acquiring an additional 3,786 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Fisker by 19.7% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,186 shares of the company’s stock valued at $115,000 after acquiring an additional 2,497 shares during the last quarter. Institutional investors own 28.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FSR. Morgan Stanley downgraded shares of Fisker from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $8.00 to $4.00 in a research report on Wednesday, January 25th. Evercore ISI assumed coverage on shares of Fisker in a report on Tuesday, November 29th. They issued an “outperform” rating and a $15.00 target price on the stock. Royal Bank of Canada downgraded Fisker from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $13.00 to $8.00 in a report on Thursday, November 3rd. Finally, Barclays began coverage on Fisker in a research report on Tuesday, February 14th. They issued an “underweight” rating and a $6.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Fisker presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Fisker Price Performance

Shares of Fisker stock opened at $7.40 on Tuesday. Fisker Inc. has a one year low of $5.59 and a one year high of $14.74. The business has a 50-day simple moving average of $7.19 and a 200 day simple moving average of $7.67. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 1.12.

Fisker (NYSE:FSR – Get Rating) last issued its earnings results on Monday, February 27th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.14). Fisker had a negative net margin of 669,901.25% and a negative return on equity of 75.88%. The firm had revenue of $0.31 million during the quarter, compared to the consensus estimate of $1.02 million. During the same period in the previous year, the firm earned ($0.47) earnings per share. The business’s quarterly revenue was up 646.3% on a year-over-year basis. As a group, analysts anticipate that Fisker Inc. will post -1.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Fisker

In related news, CEO Henrik Fisker purchased 33,700 shares of the business’s stock in a transaction on Monday, December 5th. The stock was acquired at an average price of $7.42 per share, for a total transaction of $250,054.00. Following the purchase, the chief executive officer now owns 629,218 shares of the company’s stock, valued at $4,668,797.56. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders purchased 35,505 shares of company stock worth $263,208. Insiders own 45.75% of the company’s stock.

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.