The Vanguard Group, Inc. has recently announced that it has increased stake in Fisker Inc. (NYSE:FSR) by 3.34%. After grabbing 13.33 million shares, the institutional investor is now in possession of 0.43 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 8.02% having worth around $108.67 million. Moreover, BlackRock Fund Advisors increased its share by 71259.0 to have a control over 8.96 million shares. And FifthDelta Ltd. raised its holdings to 7.39 million shares by acquiring 7.39 million shares or 4.44% of the stake.
Fisker Inc. (FSR) concluded trading on 11/30/22 at a closing price of $7.74, with 7.95 million shares of worth about $61.57 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -21.82% during that period and on Wednesday the price saw a gain of about 6.76%. Currently the company’s common shares owned by public are about 303.23M shares, out of which, 175.80M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 44 times over the past 12 months. They bought 410,227 shares in 37 of the transactions. In 7 selling transactions, insiders dumped 363,687 shares.
BNP Paribas Funds – Energy Transi, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Fisker Inc. BNP Paribas Funds – Energy Transi is currently holding 5.05 million shares of worth totaling $41.17 million. The company recently came buying 0.0 shares which brought its stake up to 3.04% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 31885.0 shares, after which its hold over company’s outstanding shares expand to 2.91%, leaving 4.83 million shares with the mutual fund that have a worth of about $39.38 million. Vanguard Small Cap Index Fund, after buying 4.07 million shares, have now control over 2.44% of the stake in the company. It holds 52585.0 shares of worth $33.15 million.
Fisker Inc. (NYSE: FSR) started trading at $7.42, above $0.17 from concluding price of the previous day. However, the stock later moved at a day high price of 7.75, or with a gain of 6.76%. Stock saw a price change of 3.06% in past 5 days and over the past one month there was a price change of -5.03%. Year-to-date (YTD), FSR shares are showing a performance of -50.79% which decreased to -63.81% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.41 but also hit the highest price of $22.64 during that period. The average intraday trading volume for Fisker Inc. shares is 5.29 million. The stock is currently trading -0.35% below its 20-day simple moving average (SMA20), while that difference is up 1.29% for SMA50 and it goes to -19.44% lower than SMA200.
The Vanguard Group, Inc. acquired 13.33 million shares of Fisker Inc. having value of about $108.67 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.43 million shares in the company valued at close to $3331613.34, or have control over 3.34% stake in the company. Fisker Inc. (NYSE: FSR) currently have 303.23M outstanding shares and institutions hold larger chunk of about 47.40% of that. Holding of mutual funds in the company is about 21.26% while other institutional holders and individual stake holders have control over 29.11% and 19.90% of the stake respectively.
The stock has a current market capitalization of $2.43B and its 3Y-monthly beta is at 1.11. It has posted earnings per share of -$1.70 in the same period. It has Quick Ratio of 7.00 while making debt-to-equity ratio of 1.12. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FSR, volatility over the week remained 4.55% while standing at 7.25% over the month.
Analysts are in expectations that Fisker Inc. (FSR) stock would likely to be making an EPS of -$0.43 in the current quarter, while forecast for next quarter EPS is -$0.44 and it is -$1.13 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.48 which is -$0.37 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.37 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -238.80% while it is estimated to increase by 22.00% in next year.
Analysts at 11 brokerage firms have issued recommendations for the Fisker Inc. (FSR)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.80. Out of those 11 Wall Street analysts, 4 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Evercore ISI on November 30, 2022 offering an Outperform rating for the stock and assigned a target price of $15 to it. Coverage by RBC Capital Mkts stated Fisker Inc. (FSR) stock as a Sector perform in their note to investors on November 03, 2022, suggesting a price target of $8 for the stock. On October 20, 2022, Needham Reiterated their recommendations, while on September 15, 2022, Needham Initiated their ratings for the stock with a price target of $12. Stock get a Neutral rating from Exane BNP Paribas on August 11, 2022.
