Tudor, Pickering, Holt & Co. Downgrades Fisker (NYSE:FSR) to Hold

Tudor, Pickering, Holt & Co. cut shares of Fisker (NYSE:FSR – Get Rating) from a buy rating to a hold rating in a report issued on Wednesday, MarketBeat.com reports. The firm currently has $13.00 price objective on the stock, down from their previous price objective of $25.00.

Several other equities analysts have also recently commented on FSR. Barclays cut their price target on Fisker from $16.00 to $14.00 and set an equal weight rating for the company in a report on Thursday, May 5th. Exane BNP Paribas began coverage on Fisker in a report on Monday, April 11th. They issued an outperform rating for the company. Cowen cut their price target on Fisker from $28.00 to $19.00 and set an outperform rating for the company in a report on Thursday, May 5th. Royal Bank of Canada cut their price target on Fisker from $26.00 to $19.00 and set an outperform rating for the company in a report on Thursday, February 17th. Finally, BNP Paribas began coverage on Fisker in a report on Monday, April 11th. They issued an outperform rating for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Fisker has an average rating of Buy and a consensus price target of $18.80.

FSR stock 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 quick ratio of 9.12, a current ratio of 9.12 and a debt-to-equity ratio of 0.96. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -7.62 and a beta of 1.00. The company has a 50 day moving average of $11.35 and a two-hundred day moving average of $13.77.

Fisker (NYSE:FSR – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). Fisker had a negative return on equity of 48.47% and a negative net margin of 438,496.81%. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.01 million. During the same quarter last year, the company posted ($0.11) EPS. The business’s revenue was down 45.5% compared to the same quarter last year. On average, research analysts anticipate that Fisker will post -1.68 EPS for the current year.

In related news, CAO John C. Iv Finnucan sold 3,548 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 $39,028.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mitchell Zuklie acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was purchased at an average price of $11.36 per share, for a total transaction of $56,800.00. The disclosure for this purchase can be found here. 24.95% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors boosted its position in Fisker by 29.8% in the 3rd quarter. Captrust Financial Advisors now owns 2,561 shares of the company’s stock valued at $38,000 after buying an additional 588 shares during the last quarter. NEXT Financial Group Inc boosted its position in Fisker by 15.8% in the 4th quarter. NEXT Financial Group Inc now owns 7,842 shares of the company’s stock valued at $124,000 after buying an additional 1,068 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Fisker by 10.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,339 shares of the company’s stock valued at $178,000 after buying an additional 1,078 shares during the last quarter. Penserra Capital Management LLC boosted its position in Fisker by 7.6% in the 4th quarter. Penserra Capital Management LLC now owns 15,934 shares of the company’s stock valued at $249,000 after buying an additional 1,123 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Fisker by 2.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 52,747 shares of the company’s stock valued at $773,000 after buying an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 28.77% of the company’s stock.

Fisker Company Profile (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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