Fisker Inc. [FSR] Stock trading around $9.61 per share: What’s Next?


Fisker Inc. [NYSE: FSR] traded at a low on 05/24/22, posting a -12.79 loss after which it closed the day’ session at $9.61. The company report on May 24, 2022 that Fisker Announces Launch of Its $350 Million At-the-Market Equity Program.

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Fisker Inc. (NYSE: FSR) (“Fisker”) today announced that it has entered into an at-the-market distribution agreement, dated May 24, 2022 (the “Distribution Agreement”), with J.P. Morgan Securities LLC and Cowen and Company, LLC (collectively, the “Agents”) as the sales agents, pursuant to which Fisker established an at-the-market equity program (the “ATM Program”). Pursuant to the ATM Program, Fisker may, at its discretion and from time to time during the term of the Distribution Agreement, sell, through the Agents, shares of its Class A Common Stock, par value $0.00001 (the “Class A Common Stock”) as would result in aggregate gross proceeds to Fisker of up to $350 million by any method permitted by law deemed to be an “at-the-market offering” as defined in Rule 415 of the Securities Act of 1933, as amended, including without limitation sales made directly on the New York Stock Exchange, on any other existing trading market for the Class A Common Stock or to or through a market maker. In addition, the sales agents may also sell the shares of Class A Common Stock by any other method permitted by law, including, but not limited to, negotiated transactions.

Fisker intends to use the net proceeds that it receives from the ATM Program for the development of the Fisker Personal Electric Automotive Revolution (PEAR) and additional vehicle development, retail development, additional technology development and general corporate purposes. Since the Class A Common Stock will be distributed at market prices prevailing at the time of the sale, prices may vary between purchasers and during the period of distribution. The volume and timing of sales, if any, will be determined at the sole discretion of Fisker’s management and in accordance with the terms of the Distribution Agreement.

The results of the trading session contributed to over 14930909 shares changing hands. Over the past one week, the price volatility of Fisker Inc. stands at 8.52% while the volatility over the past one month is 9.08%.

The market cap for FSR stock reached $2.94 billion, with 296.51 million shares outstanding and 159.38 million shares in the current float. Compared to the average trading volume of 6.81M shares, FSR reached a trading volume of 14930909 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Fisker Inc. [FSR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FSR shares is $18.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FSR stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Exane BNP Paribas have made an estimate for Fisker Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 11, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on November 09, 2021, representing the official price target for Fisker Inc. stock. Previously, the target price had yet another raise to $19, while Tudor Pickering Holt & Co. analysts kept a Buy rating on FSR stock.

The Average True Range (ATR) for Fisker Inc. is set at 0.93, with the Price to Sales ratio for FSR stock in the period of the last 12 months amounting to 27748.42. The Price to Book ratio for the last quarter was 4.12, with the Price to Cash per share for the same quarter was set at 3.41.

How has FSR stock performed recently?

Fisker Inc. [FSR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.43. With this latest performance, FSR shares dropped by -12.24% in over the last four-week period, additionally sinking by -54.86% over the last 6 months – not to mention a drop of -23.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FSR stock in for the last two-week period is set at 42.15, with the RSI for the last a single of trading hit 40.40, and the three-weeks RSI is set at 42.93 for Fisker Inc. [FSR]. The present Moving Average for the last 50 days of trading for this stock 11.42, while it was recorded at 10.85 for the last single week of trading, and 14.11 for the last 200 days.

Fisker Inc. [FSR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fisker Inc. [FSR] shares currently have an operating margin of -310615.09 and a Gross Margin at -3072.64. Fisker Inc.’s Net Margin is presently recorded at -444661.32.

Return on Equity for this stock declined to -55.22, with Return on Assets sitting at -35.48.

Fisker Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.10 and a Current Ratio set at 9.10.

Insider trade positions for Fisker Inc. [FSR]

There are presently around $944 million, or 52.90% of FSR stock, in the hands of institutional investors. The top three institutional holders of FSR stocks are: VANGUARD GROUP INC with ownership of 13,547,871, which is approximately 1.255% of the company’s market cap and around 1.50% of the total institutional ownership; BLACKROCK INC., holding 10,608,380 shares of the stock with an approximate value of $116.9 million in FSR stocks shares; and MOORE CAPITAL MANAGEMENT, LP, currently with $93.11 million in FSR stock with ownership of nearly 0.653% of the company’s market capitalization.

Positions in Fisker Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 123 institutional holders increased their position in Fisker Inc. [NYSE:FSR] by around 13,187,416 shares. Additionally, 123 investors decreased positions by around 12,244,227 shares, while 63 investors held positions by with 60,186,975 shares. The mentioned changes placed institutional holdings at 85,618,618 shares, according to the latest SEC report filing. FSR stock had 41 new institutional investments in for a total of 3,060,787 shares, while 47 institutional investors sold positions of 6,205,861 shares during the same period.