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 8.43% valued currently at $29.06 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 16.48 million Fisker Inc (FSR) shares trading Friday and a closing price of $1.46 on the day, the dollar volume was approximately $24.07 million. The shares have shown a negative half year performance of -69.96% and its price on 12/22/23 lost nearly -2.01%. Currently, there are 350.56M common shares owned by the public and among those 199.17M shares have been available to trade.
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Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 1,952,226 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 Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 6.62 million shares of the company’s stock, all valued at over $10.46 million. The company bought an additional 7428.0 shares recently to bring their total holdings to about 3.04% of the shares outstanding. Vanguard Small Cap Index Fund bought 16755.0 shares to see its total holdings expand to 5.46 million shares valued at over $8.63 million and representing 2.50% of the shares outstanding. iShares Russell 2000 ETF bought 2316.0 shares to bring its total holdings to over 4.71 million shares at a value of $7.44 million. iShares Russell 2000 ETF now owns shares totaling to 2.16% of the shares outstanding.
However, the script later moved the day high at 1.5200, down -2.01%. The company’s stock has a 5-day price change of -9.88% and -72.50% over the past three months. FSR shares are trading -79.92% year to date (YTD), with the 12-month market performance down to -80.69% lower. It has a 12-month low price of $1.35 and touched a high of $8.66 over the same period. FSR has an average intraday trading volume of 15.88 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 -9.90%, -55.70%, and -72.40% respectively.
Institutional ownership of Fisker Inc (NYSE: FSR) shares accounts for 31.56% of the company’s 350.56M shares outstanding. Mutual fund holders own 23.50%, while other institutional holders and individual stakeholders account for 32.22% and 18.50% respectively.
It has a market capitalization of $511.82M and a beta (3y monthly) value of 0.71. The earnings-per-share (ttm) stands at -$1.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.95% over the week and 11.51% over the month.
Analysts forecast that Fisker Inc (FSR) will achieve an EPS of -$0.24 for the current quarter, -$0.24 for the next quarter and -$0.51 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$0.54 a year ago. Earnings per share for the fiscal year are expected to increase by 38.59%, and 38.78% 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 “Hold” at a consensus score of 3.23. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 5 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. Evercore ISI stated their In-line rating for the stock in a research note on December 04, 2023, with the firm’s price target at $6-$2.
