Fisker Inc. (FSR) closed at $6.97 in the latest trading session, marking a -1.13% move from the prior day. This change was narrower than the S&P 500’s 1.38% loss on the day. At the same time, the Dow lost 1.26%, and the tech-heavy Nasdaq lost 5.67%.
Heading into today, shares of the company had lost 0.7% over the past month, lagging the Auto-Tires-Trucks sector’s gain of 28.96% and the S&P 500’s gain of 3.87% in that time.
Fisker Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 27, 2023. On that day, Fisker Inc. is projected to report earnings of -$0.40 per share, which would represent year-over-year growth of 14.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.08 million, up 2587.5% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Fisker Inc.These revisions help to show the ever-changing nature of 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.84% lower. 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 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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