How Will Fisker Inc (NYSE: FSR)’s Current Price Volatility Affect Its Future Potential?

In the last trading session, 40.19 million Fisker Inc (NYSE:FSR) shares changed hands as the company’s beta touched 0.83. With the company’s per share price at $2.43 changed hands at -$0.38 or -13.52% during last session, the market valuation stood at $834.07M. FSR’s last price was a discount, traded about -257.61% off its 52-week high of $8.69. The share price had its 52-week low at $2.81, which suggests the last value was -15.64% down since then. When we look at Fisker Inc’s average trading volume, we note the 10-day average is 19.68 million shares, with the 3-month average coming to 8.24 million.

Analysts gave the Fisker Inc (FSR) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.85. If we narrow down to specifics, the data shows that 4 out of 13 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended FSR as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Fisker Inc’s EPS for the current quarter is expected to be -$0.1.

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Fisker Inc (NYSE:FSR) trade information

Instantly FSR was in red as seen at the end of in last trading. With action -36.72%, the performance over the past five days has been red. The drop to weekly highs of 4.12 on Friday, 11/17/23 subtracted -13.52% to the stock’s daily price. The company’s shares are showing year-to-date downside of -66.57%, with the 5-day performance at -36.72% in the red. However, in the 30-day time frame, Fisker Inc (NYSE:FSR) is -57.44% down. Looking at the short shares, we see there were 86.13 million shares sold at short interest cover period of 13.58 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.90, meaning bulls need an upside of 58.81% from its current market value. According to analyst projections, FSR’s forecast low is $2.00 with $11.00 as the target high. To hit the forecast high, the stock’s price needs a -352.67% plunge from its current level, while the stock would need to tank 17.7% for it to hit the projected low.

Fisker Inc (FSR) estimates and forecasts

Data shows that the Fisker Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -60.62% over the past 6 months, a 40.45% in annual growth rate that is considerably higher than the industry average of 15.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Fisker Inc will rise 81.50%, while the growth in revenue is estimated to hit 47.40% for the next quarter. Year-over-year growth is forecast to reach 186,397.09% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $417.69 million. 3 analysts are of the opinion that Fisker Inc’s revenue for the quarter ending Mar 2024 will be $436.55 million. The company’s revenue for the corresponding quarters a year ago was $306k and $14.35 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 136,400.00%. The estimates for the next quarter sales put growth at 2,942.20%.

The 2023 estimates are for Fisker Inc earnings to increase by 39.85%.

FSR Dividends

Fisker Inc is expected to release its next quarterly earnings report on November 13.

Fisker Inc (NYSE:FSR)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 9.05% of Fisker Inc shares while 49.65% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 54.59%. There are 49.65% institutions holding the Fisker Inc stock share, with Fifthdelta Ltd the top institutional holder. As of Jun 29, 2023, the company held 9.14% of the shares, roughly 19.28 million FSR shares worth $108.71 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.62% or 18.18 million shares worth $102.56 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 6.49 million shares estimated at $36.58 million under it, the former controlled 3.08% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.42% of the shares, roughly 5.11 million shares worth around $28.81 million.

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