Fisker (FSR, $16.28) signs deal with Foxconn to make new EV
Electric carmaker Fisker said it signed a deal to make a new vehicle with Taiwanese electronic contract manufacturer Foxconn.
Foxconn will manufacture the electric vehicle at projected annual volumes of more than 250,000.
“We will create a vehicle that crosses social borders, while offering a combination of advanced technology, desirable design, innovation and value for money, whilst delivering on our commitment to create the world’s most sustainable vehicles,” CEO Henrik Fisker said in a statement.
Production of the new electric vehicle will begin in the fourth quarter of 2023.
FSR's Indicator enters downward trend
The Aroon Indicator for FSR entered a downward trend on May 16, 2022. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 93 similar instances where the Aroon Indicator formed such a pattern. In 69 of the 93 cases the stock moved lower. This puts the odds of a downward move at 74%.
Current price $9.73 crossed the support line at $14.09 and is trading between $14.09 support and $-72.05 support lines. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -23% Downtrend, while the week of 05/09/22 - 05/16/22 shows a +3% Uptrend.
The Momentum Indicator moved below the 0 level on April 11, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on FSR as a result. In 24 of 65 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 37%.
The Moving Average Convergence Divergence Histogram (MACD) for FSR turned negative on April 11, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 35 similar instances when the indicator turned negative. In 17 of the 35 cases the stock turned lower in the days that followed. This puts the odds of success at 49%.
FSR moved below its 50-day Moving Average on April 20, 2022 date and that indicates a change from an upward trend to a downward trend.
The 10-day Moving Average for FSR crossed bearishly below the 50-day moving average on April 22, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 4 of 9 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 44%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FSR declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 74%.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where FSR's RSI Indicator exited the oversold zone, 5 of 10 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 50%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 24 of 42 cases where FSR's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 57%.
Following a +18.82% 3-day Advance, the price is estimated to grow further. Considering data from situations where FSR advanced for three days, in 86 of 125 cases, the price rose further within the following month. The odds of a continued upward trend are 69%.
FSR may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 60%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.5.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. FSR’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 85, placing this stock worse than average.
The Tickeron Valuation Rating of 98 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.243) is normal, around the industry mean (2.904). P/E Ratio (0.000) is within average values for comparable stocks, (72.662). FSR's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (1.483). FSR has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.035). P/S Ratio (0.000) is also within normal values, averaging (141.420).
The Tickeron SMR rating for this company is 98 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 83 (best 1 - 100 worst), indicating slightly worse than average price growth. FSR’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 1 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
Automobiles continue to be arguably the most popular form of passenger travel in the U.S., and major automobile makers have revenues and market capitalizations running into multi-billions. In recent years, the industry has been experiencing some path-breaking innovations like electric vehicles and self-driving technology. While there are long-standing companies like General Motors, Ford, and Toyota Motors operating in this space, there are also emerging/rapidly growing players like Tesla – which has had a major role in the growing popularity of the electric vehicle market. With technological advancements taking steam in the auto space, we’ve also witnessed collaborations (or talks of potential partnerships) of carmakers with tech behemoths like Google’s subsidiary, Waymo.
The average market capitalization across the Motor Vehicles Industry is 31.9B. The market cap for tickers in the group ranges from 4.3M to 797.3B. TSLA holds the highest valuation in this group at 797.3B. The lowest valued company is GKIT at 4.3M.
The average weekly price growth across all stocks in the Motor Vehicles Industry was 2.34%. For the same Industry, the average monthly price growth was -8.96%, and the average quarterly price growth was -32.62%. RIDE experienced the highest price growth at 28.27%, while GOEV experienced the biggest fall at -26.62%.
- 4/26/22 5:09 AM: Fisker (FSR, $10.95) was a top loser this week, declining -7.28%
- 3/31/22 6:39 AM: Fisker (FSR, $13.08) was a top weekly gainer, with a +7.3% jump
- 3/18/22 7:14 AM: Fisker (FSR, $12.06) was a top weekly gainer, with a +5.33% jump
The average weekly volume growth across all stocks in the Motor Vehicles Industry was 46.76%. For the same stocks of the Industry, the average monthly volume growth was 82.63% and the average quarterly volume growth was 15.15%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows