M&T Bank Corp Cuts Holdings in Fisker Inc. (NYSE:FSR)

M&T Bank Corp trimmed its holdings in shares of Fisker Inc. (NYSE:FSR – Get Rating) by 95.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 784 shares of the company’s stock after selling 16,466 shares during the period. M&T Bank Corp’s holdings in Fisker were worth $33,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Fisker by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,752,473 shares of the company’s stock valued at $103,832,000 after purchasing an additional 437,940 shares in the last quarter. BlackRock Inc. increased its stake in Fisker by 0.3% in the 3rd quarter. BlackRock Inc. now owns 10,276,634 shares of the company’s stock valued at $77,587,000 after purchasing an additional 28,475 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Fisker by 21.0% in the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 6,112,857 shares of the company’s stock valued at $44,440,000 after purchasing an additional 1,061,092 shares in the last quarter. State Street Corp increased its stake in Fisker by 2.2% in the 1st quarter. State Street Corp now owns 3,387,352 shares of the company’s stock valued at $43,697,000 after purchasing an additional 74,115 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Fisker by 178.2% in the 3rd quarter. Lazard Asset Management LLC now owns 2,026,228 shares of the company’s stock valued at $15,298,000 after purchasing an additional 1,297,909 shares in the last quarter. 28.95% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Fisker

In other news, CTO Burkhard J. Huhnke sold 10,280 shares of the firm’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $5.93, for a total transaction of $60,960.40. Following the sale, the chief technology officer now owns 25,493 shares in the company, valued at $151,173.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 45.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FSR. R. F. Lafferty dropped their price objective on Fisker from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, February 28th. Barclays initiated coverage on Fisker in a research report on Tuesday, February 14th. They set an “underweight” rating and a $6.00 price target for the company. 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Fisker has an average rating of “Hold” and an average price target of $12.00.

Fisker Trading Up 1.4 %

FSR stock opened at $5.84 on Wednesday. Fisker Inc. has a 52-week low of $4.26 and a 52-week high of $11.41. The stock’s fifty day simple moving average is $5.84 and its 200-day simple moving average is $6.62. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.03 and a current ratio of 2.03.

Fisker (NYSE:FSR – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $0.20 million for the quarter, compared to analyst estimates of $2.52 million. During the same quarter last year, the business earned ($0.41) EPS. Fisker’s revenue for the quarter was up 1550.0% compared to the same quarter last year. Equities analysts predict 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.

Further Reading

• Get a free copy of the StockNews.com research report on Fisker (FSR)
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