Insider Selling: Fisker Inc. (NYSE:FSR) CFO Sells 561,956 Shares of Stock

Saturday, June 12, 2021 | MarketBeat

Fisker Inc. (NYSE:FSR) CFO Geeta Gupta sold 561,956 shares of the stock in a transaction dated Friday, June 11th. The stock was sold at an average price of $17.83, for a total value of $10,019,675.48.

Shares of FSR stock traded up $1.04 on Friday, reaching $18.64. 10,672,587 shares of the stock were exchanged, compared to its average volume of 16,834,854. The company's 50 day moving average price is $13.73. The stock has a market cap of $5.50 billion, a P/E ratio of -46.60 and a beta of 0.95. Fisker Inc. has a twelve month low of $8.70 and a twelve month high of $31.96.

Fisker (NYSE:FSR) last announced its quarterly earnings results on Sunday, May 16th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.19) by $0.08. Sell-side analysts predict that Fisker Inc. will post -0.85 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Fisker in the fourth quarter valued at approximately $89,764,000. Renaissance Technologies LLC purchased a new stake in shares of Fisker during the 1st quarter worth approximately $48,770,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Fisker in the 1st quarter valued at $41,812,000. Prentice Capital Management LP purchased a new position in shares of Fisker in the 4th quarter valued at $34,092,000. Finally, Amundi Asset Management US Inc. purchased a new position in shares of Fisker in the 1st quarter valued at $28,517,000. Hedge funds and other institutional investors own 24.05% of the company's stock.

Several equities analysts have weighed in on FSR shares. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $10.00 target price (down from $15.00) on shares of Fisker in a research report on Wednesday, April 28th. Zacks Investment Research cut shares of Fisker from a "hold" rating to a "sell" rating in a report on Thursday, May 20th. Bank of America initiated coverage on shares of Fisker in a report on Tuesday, April 20th. They set a "buy" rating and a $31.00 target price on the stock. Royal Bank of Canada started coverage on shares of Fisker in a research note on Tuesday. They issued an "outperform" rating and a $27.00 price target for the company. Finally, R. F. Lafferty began coverage on Fisker in a research note on Wednesday, February 17th. They issued a "buy" rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of "Buy" and a consensus price target of $26.36.

About Fisker

Fisker, Inc focuses on design, development, manufacture, and sale of electric vehicles. The company was founded in 2016 and is headquartered in Manhattan Beach, California.

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