Fisker Inc. [FSR] stock Initiated by Needham analyst, price target now $12

Fisker Inc. [NYSE: FSR] traded at a low on 10/10/22, posting a -5.56 loss after which it closed the day’ session at $6.96. The company report on September 29, 2022 that Fisker Achieves Manufacturing Milestones Before November Start of Production of All-Electric Fisker Ocean.

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To date, Fisker’s production partner Magna Steyr has produced 95 prototypes of the Fisker Ocean SUV.

Fisker will use these vehicles for testing, marketing, service, and manufacturing training.

The results of the trading session contributed to over 6295470 shares changing hands. Over the past one week, the price volatility of Fisker Inc. stands at 6.64% while the volatility over the past one month is 6.34%.

The market cap for FSR stock reached $2.12 billion, with 298.27 million shares outstanding and 162.60 million shares in the current float. Compared to the average trading volume of 5.53M shares, FSR reached a trading volume of 6295470 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 $14.67 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 2.50. 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.

Needham have made an estimate for Fisker Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 15, 2022. While these analysts kept the previous recommendation, Exane BNP Paribas dropped their target price from $20 to $10. The new note on the price target was released on August 11, 2022, representing the official price target for Fisker Inc. stock. Previously, the target price had yet another raise to $10, while Morgan Stanley analysts kept a Equal-Weight rating on FSR stock. On May 25, 2022, analysts decreased their price target for FSR shares from 25 to 13.

The Average True Range (ATR) for Fisker Inc. is set at 0.49, with the Price to Sales ratio for FSR stock in the period of the last 12 months amounting to 22097.28. The Price to Book ratio for the last quarter was 3.43, with the Price to Cash per share for the same quarter was set at 2.81.

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 -10.77. With this latest performance, FSR shares dropped by -19.07% in over the last four-week period, additionally sinking by -44.23% over the last 6 months – not to mention a drop of -48.63% 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 31.01, with the RSI for the last a single of trading hit 27.13, and the three-weeks RSI is set at 34.34 for Fisker Inc. [FSR]. The present Moving Average for the last 50 days of trading for this stock 8.75, while it was recorded at 7.60 for the last single week of trading, and 10.70 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 10.50 and a Current Ratio set at 10.50.

Insider trade positions for Fisker Inc. [FSR]

There are presently around $568 million, or 49.70% of FSR stock, in the hands of institutional investors. The top three institutional holders of FSR stocks are: VANGUARD GROUP INC with ownership of 13,314,533, which is approximately -1.722% of the company’s market cap and around 1.50% of the total institutional ownership; BLACKROCK INC., holding 10,248,159 shares of the stock with an approximate value of $71.33 million in FSR stocks shares; and MOORE CAPITAL MANAGEMENT, LP, currently with $58.8 million in FSR stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Fisker Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 94 institutional holders increased their position in Fisker Inc. [NYSE:FSR] by around 11,742,607 shares. Additionally, 138 investors decreased positions by around 14,301,245 shares, while 67 investors held positions by with 55,593,590 shares. The mentioned changes placed institutional holdings at 81,637,442 shares, according to the latest SEC report filing. FSR stock had 40 new institutional investments in for a total of 7,616,388 shares, while 55 institutional investors sold positions of 9,321,018 shares during the same period.


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