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Monday, October 3, 2022

Fisker Inc. (FSR) Gains But Lags Market: What You Should Know


Fisker Inc. (FSR) closed at $8.60 in the latest trading session, marking a +1.3% move from the prior day. This change lagged the S&P 500’s 1.53% gain on the day. At the same time, the Dow added 1.19%, and the tech-heavy Nasdaq gained 0.14%.

Heading into today, shares of the company had lost 8.02% over the past month, lagging the Auto-Tires-Trucks sector’s loss of 3.73% and the S&P 500’s loss of 3.1% in that time.

Wall Street will be looking for positivity from Fisker Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.43, down 16.22% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.65 per share and revenue of $6.91 million, which would represent changes of -44.74% and +6481.9%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Fisker Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.79% higher within the past month. Fisker Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Automotive – Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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