Will Fisker Ocean Lead To A Flip In Fortune Of Fisker’s Share?

Fisker is an American automotive company founded in the year 2016. The automotive company was founded by Hernrik Fisker and his wife Geeta Gupta Fisker. It is a successor of Fisker Automotive. It was developing a vehichle named Fisker Ocean which is an electric SUV for a long time and has recently launched it in Britain. Fisker has its headquarters in California, U.S. As of May 2022, the company has more than 400 employees. The current CEO of the company is Henrik Fisker itself.

FSR’s average trading volume in the market for the last three months is 8.94 Million. As the company is in a developing stage, it does not pay any dividends. The FSR stock has a market cap of $2.077 Billion. The company’s net cash is $521.78 Million as of Q2 2023, which reflected a decline of 38.8% year-on-year.

The ROA for the Fisker Inc. stands at a negative -33.5% as the company has recently sold its product and the gross margin of the company is -2,874.01%. The ROE for the company is also negative due to decline in share price and the debt/equity ratio is 168.13%. The data suggests weakness in the fundamentals of the company.

Fisker Inc. Stock Performance Analysis

Fisker’s only source of income is electric vehicles and its major chunk of revenue comes from the United States. The company has now expanded in Britain. Fisker Inc. has a net income of -$547.50 Million, which is negative of the total revenue. The company’s debt suddenly increased in the last two years.

Performance Analysis of FSR Stock

Fisker has short-term assets of $831.45M and also has liabilities of $330.88M. For the year 2022, the company has incurred operating expenses of $518.576M and has paid more than $100K in taxes. Currently, 9.02% of the company’s shares are closely held while 191.858 shares are freely floating in the market available for trading.

FSR Stock Technical Analysis

Fisker share price is trading inside a darvas box range making equal highs and lows in swing points. This depicts that none of the buyers or the sellers are winning the battle and fighting with each other. The current behavior of the share price also depicts that the price is accumulating lots of volume in the zone and a breakout in any direction can lead to a huge move in either direction.

Despite of the randge-bound price behavior of the FSR share the EMAs are trading in a death cross. The 50-day and the 200-day EMA are contracting with each other leading to a flat price follow-up. This further leads to no trend in the market.

The RSI of Fisker’s stock is following a volatile price action and is currently in a bullish cycle. It has currently declined below the 50-level which indicates weakness in the meantime. But unless the RSI breaks below the oversold zone, the market is expected to be bullish.

Conclusion

The share price of Fisker has been trading in a range for a very long time, EMA for the share is indicating uncertainty. The RSI is bullish when the overall trend is considered. The fundamentals are the company are not very reliable as the company is new. The upcoming finances can be considered as reliable as the company has started to sell its product in the market.

Therefore, we must wait for Fisker Inc. to announce next quarter results. We can also look for investing in the stock if it breaks above the consolidation zone.

Technical Levels

Support levels – $2.00 and $4.30
Resistance levels- $8.50 and $10.50

Disclaimer

The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.