Fisker (NYSE:FSR) Downgraded by Tudor Pickering

Tudor Pickering cut shares of Fisker (NYSE:FSRGet Rating) from a buy rating to a hold rating in a report released on Wednesday morning, The Fly reports. The brokerage currently has $13.00 price target on the stock, down from their previous price target of $25.00.

A number of other research firms also recently issued reports on FSR. Credit Suisse Group dropped their target price on shares of Fisker from $25.00 to $20.00 and set an outperform rating for the company in a research report on Tuesday, May 17th. Tudor, Pickering, Holt & Co. downgraded shares of Fisker from a buy rating to a hold rating and dropped their target price for the stock from $25.00 to $13.00 in a research report on Wednesday. Royal Bank of Canada dropped their target price on shares of Fisker from $26.00 to $19.00 and set an outperform rating for the company in a research report on Thursday, February 17th. Zacks Investment Research raised shares of Fisker from a sell rating to a hold rating in a research report on Tuesday, April 19th. Finally, Cowen dropped their target price on shares of Fisker from $28.00 to $19.00 and set an outperform rating for the company in a research report on Thursday, May 5th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Fisker presently has a consensus rating of Buy and an average price target of $18.80.

NYSE FSR opened at $10.75 on Wednesday. Fisker has a 12 month low of $8.04 and a 12 month high of $23.75. The company has a 50-day moving average of $11.35 and a 200-day moving average of $13.77. The company has a debt-to-equity ratio of 0.96, a current ratio of 9.12 and a quick ratio of 9.12. The company has a market cap of $3.19 billion, a P/E ratio of -7.62 and a beta of 1.00.

Fisker (NYSE:FSRGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). Fisker had a negative net margin of 438,496.81% and a negative return on equity of 48.47%. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. During the same period in the prior year, the company earned ($0.11) EPS. The company’s revenue was down 45.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Fisker will post -1.68 EPS for the current year.

In other news, CTO Burkhard J. Huhnke sold 6,639 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $11.00, for a total transaction of $73,029.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John C. Iv Finnucan sold 3,548 shares of the stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $11.00, for a total value of $39,028.00. The disclosure for this sale can be found here. 24.95% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Zullo Investment Group Inc. purchased a new position in shares of Fisker during the 4th quarter valued at approximately $31,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Fisker during the 4th quarter valued at approximately $31,000. First Manhattan Co. purchased a new position in shares of Fisker during the 3rd quarter valued at approximately $30,000. Mine & Arao Wealth Creation & Management LLC. purchased a new position in shares of Fisker during the 4th quarter valued at approximately $33,000. Finally, Trust Co. of Vermont bought a new position in Fisker during the fourth quarter worth $36,000. Institutional investors own 28.77% of the company’s stock.

About Fisker (Get Rating)

Fisker Inc develops, manufactures, markets, leases, or sale of electric vehicles. The company is also involved in asset-light automotive business. It operates through The White Space, The Value Segment, and The Conservative Premium segments. In addition, the company offers fisker flexible platform agnostic design ,a process that develops and designs electric vehicles in specific segment size.

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