( ) saw a notable increase in short interest throughout the month of April. On April 15th there were 67,890,000 short shares. This is a 12.0% increase from the 60,590,000 total shares on March 31st. The days-to-cover is 8.7 days based on an average daily share volume of 7,760,000.
Analyst Upgrades and downgrades
Several analysts have published reports about the company. Barclays began covering Fisker with a research report on February 14th. The stock was given an 'underweight rating' and a price target of $6.00. Morgan Stanley dropped the price target on Fisker's stock from $8.00 down to $4.00 and lowered its rating from 'equal' to 'underweight.' This was in a report published by Morgan Stanley on January 25th. R. F. Lafferty reduced their price target for shares of Fisker, from $17.00 down to $15.50 and gave the stock a buy' rating in a report published on February 28th. Needham & Company LLC also began covering Fisker on February 28th in a report. The company was given a rating of 'hold'. Six analysts gave the stock a hold, five a buy and two a sell. According to a related report, on Thursday, 9th February, a major shareholder Ltd Fifthdelta, sold 395116 shares of Fisker in a transaction. The stock was bought at $7.53 on average, for a transaction totaling $2,975,223.48. After the completion of the deal, the insider owns directly 20,180,253 company shares, worth approximately $151,957 305.09. Fisker's major shareholder Ltd Fifthdelta has sold 395116 shares in an exchange that took place on Thursday, 9th February. The shares were purchased at $7.53 on average, for a transaction totaling $2,975,223.48. After the sale, the insider owns directly 20,180,253 of the company's shares, worth approximately $151,957 305.09. CTO Burkhard Huhnke also sold 10,280 of the company's shares in a deal that took place on Tuesday, 28th March. The shares were purchased at a price of $5.93 on average, resulting in a transaction totaling $60,960.40. After the transaction was completed, the chief technologist now owns directly 25,493 shares in the company, worth approximately $151,173.49. In the past 90 days, insiders sold 1,934,422 company shares worth $13,051,304. Insiders own 45.75 percent of the company's stock.
Fisker: hedge funds weigh in
Several large investors recently bought and then sold shares in the company. Toth Financial Advisory Corp increased its Fisker holdings by 126.7% during the fourth quarter. Toth Financial Advisory Corp owns now 3,400 shares worth $25,000, after buying an additional 1,900 during the last quarter. Knuff & Co LLC grew its Fisker holdings by 100.0% during the fourth quarter. Knuff & Co LLC owns 4,000 of the company stock, worth $29,000. This is after acquiring 2,000 additional shares. Captrust Financial Advisors increased its Fisker position by 34.3% during the first quarter. Captrust Financial Advisors owns 4,390 of the company’s shares valued at $57,000, after buying an additional 1,121 during the last quarter. Canada Pension Plan Investment Board purchased a new Fisker position during the first quarter, valued at approximately $59,000. Belpointe Asset Management LLC purchased a position in Fisker during the fourth quarter, valued at approximately $37,000. Institutional investors hold 28.95% the stock of Fisker.
Fisker stock down 6.4 %
Tuesday's trading saw a $0.35 decline, bringing the stock price to $5.10. The stock was traded at a volume of 11,216,838 compared to the average of 7,835,648. The company's market capitalization is $1.63 billion. It has a price to earnings ratio of -2.83, and a beta value of 1.04. The 50-day moving price of the business is $5.93, and its 200-day moving price is $6.88. The company's quick ratio is 2.51, its current ratio is 2.51, and it has a debt to equity ratio of 1.38. Fisker's low for the past twelve months is $4.26, and its high for that period is $11.59.
The company last released its quarterly earnings on Monday, 27th February. The company's ($0.54) earnings per share for the quarter fell short of analysts' expectations ($0.40), by ($0.14). Revenue for the quarter was $0.31 million, which is lower than analyst expectations of $1.02 millions. Fisker's negative return on equity was 91.47%, and its negative net margin was 160,086.58%. The company's revenue for the quarter was 646.3% higher than it was in the same period last year. In the same quarter of the previous year, Fisker earned $0.47 per share. Analysts predict that Fisker's EPS will be -0.82 for the current fiscal period.
Fisker Company Profile
Fisker, Inc. is engaged in developing a technology enabled automotive business model, including vehicle development, sales and service, as well as customer experience. The company also designs, develops and manufactures eco friendly electric vehicles. Henrik Fisker founded the company in 2016. Its headquarters is in Manhattan Beach, CA.
MarketBeat.com offers a FREE daily email newsletter