Fisker Inc. (NYSE:FSR) rose 7.5% during trading on Thursday . The stock traded as high as $14.78 and last traded at $14.68. Approximately 279,817 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 13,701,666 shares. The stock had previously closed at $13.66.
FSR has been the topic of several analyst reports. Bank of America downgraded shares of Fisker from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $27.00 to $18.00 in a research note on Thursday, September 16th. Zacks Investment Research downgraded shares of Fisker from a “hold” rating to a “sell” rating in a research report on Tuesday, August 10th. Royal Bank of Canada reduced their price objective on shares of Fisker from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. Morgan Stanley initiated coverage on shares of Fisker in a research report on Monday, August 9th. They set an “overweight” rating and a $40.00 price objective on the stock. Finally, Tudor Pickering initiated coverage on shares of Fisker in a research report on Thursday. They set a “buy” rating and a $19.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $24.08.
The company has a market cap of $4.43 billion, a P/E ratio of -37.43 and a beta of 0.94. The stock’s 50 day moving average is $14.64 and its 200-day moving average is $15.50.
Institutional investors and hedge funds have recently bought and sold shares of the business. Paradigm Strategies in Wealth Management LLC bought a new position in Fisker during the 2nd quarter valued at about $29,000. Allworth Financial LP lifted its stake in Fisker by 1,197.4% during the 2nd quarter. Allworth Financial LP now owns 2,024 shares of the company’s stock valued at $39,000 after acquiring an additional 1,868 shares during the period. Nisa Investment Advisors LLC bought a new position in Fisker during the 2nd quarter valued at about $73,000. Rockefeller Capital Management L.P. bought a new position in Fisker during the 1st quarter valued at about $85,000. Finally, Sowell Financial Services LLC lifted its stake in Fisker by 134.2% during the 1st quarter. Sowell Financial Services LLC now owns 8,728 shares of the company’s stock valued at $99,000 after acquiring an additional 5,002 shares during the period. Institutional investors and hedge funds own 23.20% of the company’s stock.
About Fisker (NYSE:FSR)
Fisker, Inc engages in the provision of e-mobility solutions. It develops and manufactures eco-friendly electrically powered vehicles. Its products include solar t-shirt, sustainable solar bottle, solar hoodie, and fisker hat. The company was founded by Henrik Fisker and Geeta Gupta-Fisker in 2016 is headquartered in Manhattan Beach, CA.
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