The Vanguard Group, Inc. recently announced the acquisition of new stake in Fisker Inc (NYSE:FSR). The institutional investor has increased its shareholding in the Consumer Cyclical company by 4.21% to 18.39 million shares with purchase of 0.74 million shares. This fresh investment now brings its stake to 8.72% valued currently at $82.76 million. In addition, BlackRock Fund Advisors raised its holdings by 0.33 million to 12.81 million shares. And Moore Capital Management LP has lifted its position by 3.72% or 0.38 million shares – to 10.57 million shares.
With over 40.19 million Fisker Inc (FSR) shares trading Friday and a closing price of $2.43 on the day, the dollar volume was approximately $97.66 million. The shares have shown a negative half year performance of -60.62% and its price on 11/17/23 lost nearly -13.52%. Currently, there are 343.24M common shares owned by the public and among those 191.82M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for FSR have a consensus price objective of $5.90. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $2.00. The average price target is 58.81% above its recent price level and a downside to the estimated low will see the stock lose -21.5% over that period. But an upside of 77.91% will see the stock hit the forecast high price target while median target price for the stock is $6.00.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 1,819,448 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 2,662,524 shares.
The top 3 mutual fund holders in Fisker Inc are BNP Paribas Funds – Energy Transi, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. BNP Paribas Funds – Energy Transi owns 7.25 million shares of the company’s stock, all valued at over $32.61 million. Vanguard Total Stock Market ETF bought 0.14 million shares to see its total holdings expand to 6.61 million shares valued at over $29.77 million and representing 3.14% of the shares outstanding. Vanguard Small Cap Index Fund bought 27648.0 shares to bring its total holdings to over 5.44 million shares at a value of $24.49 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.58% of the shares outstanding.
Shares of Fisker Inc (NYSE: FSR) opened at $2.85, up $0.04 from a prior closing price of $2.81. However, the script later moved the day high at 2.8600, down -13.52%. The company’s stock has a 5-day price change of -36.72% and -56.84% over the past three months. FSR shares are trading -66.57% year to date (YTD), with the 12-month market performance down to -70.22% lower. It has a 12-month low price of $2.81 and touched a high of $8.69 over the same period. FSR has an average intraday trading volume of 8.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -44.28%, -55.62%, and -59.13% respectively.
Institutional ownership of Fisker Inc (NYSE: FSR) shares accounts for 32.39% of the company’s 343.24M shares outstanding. Mutual fund holders own 24.31%, while other institutional holders and individual stakeholders account for 30.11% and 22.63% respectively.
It has a market capitalization of $834.07M and a beta (3y monthly) value of 0.83. The earnings-per-share (ttm) stands at -$1.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.30% over the week and 9.46% over the month.
Analysts forecast that Fisker Inc (FSR) will achieve an EPS of $First Solar, Inc. for the current quarter, $155.02 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $FS KKR Capital Corp. while analysts give the company a high EPS estimate of $Fortuna Silver Mines Inc. Comparatively, EPS for the current quarter was $Restaurant Brands International a year ago. Earnings per share for the fiscal year are expected to increase by 39.85%, and 47.65% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Fisker Inc (FSR) as a “Moderate Buy” at a consensus score of 2.85. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 4 of the 13 advise that investors “hold,” and 4 rated it as a “Sell.”
Looking at the support for the FSR, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on September 26, 2023, with the firm’s price target at $8.
