Fisker Inc. (NYSE:FSR) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 48,360,000 shares, an increase of 33.8% from the August 15th total of 36,150,000 shares. Approximately 30.3% of the shares of the company are short sold. Based on an average daily volume of 8,890,000 shares, the days-to-cover ratio is currently 5.4 days.
Shares of FSR traded up $0.02 during midday trading on Tuesday, reaching $13.32. The stock had a trading volume of 169,967 shares, compared to its average volume of 13,789,411. Fisker has a 1-year low of $8.70 and a 1-year high of $31.96. The company’s fifty day simple moving average is $14.76 and its two-hundred day simple moving average is $15.62. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -33.40 and a beta of 0.94.
Fisker (NYSE:FSR) last announced its quarterly earnings data on Thursday, August 5th. The company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.04. The firm had revenue of $0.03 million during the quarter. Research analysts expect that Fisker will post -0.94 earnings per share for the current year.
Several equities research analysts have commented on FSR shares. Barclays lowered their price target on shares of Fisker from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, August 9th. Royal Bank of Canada lowered their target price on shares of Fisker from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, August 6th. Zacks Investment Research lowered shares of Fisker from a “hold” rating to a “sell” rating in a research note on Tuesday, August 10th. Bank of America lowered shares of Fisker from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $27.00 to $18.00 in a research note on Thursday, September 16th. Finally, Morgan Stanley began coverage on shares of Fisker in a research report on Monday, August 9th. They set an “overweight” rating and a $40.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Fisker has a consensus rating of “Hold” and a consensus price target of $25.00.
Fisker Company Profile
Fisker, Inc engages in the provision of e-mobility solutions. It develops and manufactures eco-friendly electrically powered vehicles. Its products include solar t-shirt, sustainable solar bottle, solar hoodie, and fisker hat. The company was founded by Henrik Fisker and Geeta Gupta-Fisker in 2016 is headquartered in Manhattan Beach, CA.
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