Fisker Inc. (NYSE:FSR – Get Free Report) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 75,510,000 shares, an increase of 10.2% from the June 15th total of 68,490,000 shares. Based on an average daily volume of 8,680,000 shares, the days-to-cover ratio is presently 8.7 days.
Analysts Set New Price Targets
FSR has been the subject of a number of recent analyst reports. TD Cowen decreased their price target on Fisker from $19.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday. Wolfe Research downgraded Fisker from a “peer perform” rating to an “underperform” rating and set a $6.00 price objective for the company. in a research note on Thursday, June 8th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.60.
Institutional Trading of Fisker
Several institutional investors and hedge funds have recently bought and sold shares of the business. Knuff & Co LLC grew its position in shares of Fisker by 100.0% in the fourth quarter. Knuff & Co LLC now owns 4,000 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Fisker by 18.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 12,018 shares of the company’s stock valued at $87,000 after purchasing an additional 1,857 shares in the last quarter. Cartenna Capital LP bought a new position in shares of Fisker in the 4th quarter valued at $3,817,000. Moore Capital Management LP lifted its stake in shares of Fisker by 19.5% in the 4th quarter. Moore Capital Management LP now owns 8,583,630 shares of the company’s stock valued at $62,403,000 after acquiring an additional 1,400,000 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Fisker by 8.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 283,604 shares of the company’s stock valued at $1,741,000 after acquiring an additional 23,246 shares during the last quarter. Institutional investors own 31.47% of the company’s stock.
Fisker Stock Up 2.7 %
Fisker (NYSE:FSR – Get Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The company reported ($0.38) earnings per share 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 firm had revenue of $0.20 million for the quarter, compared to analyst estimates of $2.52 million. During the same period in the prior year, the company earned ($0.41) earnings per share. The firm’s quarterly revenue was up 1550.0% on a year-over-year basis. As a group, equities analysts expect that Fisker will post -1.25 earnings per share for the current year.
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.
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