Fisker (FSR, $16.28) Signs Deal With Foxconn To Make New EV
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Summary
- Electric carmaker Fisker signed a deal to make a new vehicle with Taiwanese electronic contract manufacturer Foxconn.
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.
THE FOLLOWING PART OF THE ARTICLE IS UPDATED ON MARCH 04, 2021
FSR in -4.92% downward trend, falling for three consecutive days on February 19, 2021
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where FSR declined for three days, in 35 of 66 cases, the price declined further within the following month. The odds of a continued downward trend are 53%.
Current price $22.13 is above $17.32 the highest resistance line found by A.I. Throughout the month of 01/28/21 - 03/02/21, the price experienced a +63% Uptrend. During the week of 02/23/21 - 03/02/21, the stock enjoyed a +8% Uptrend growth.
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for FSR moved out of overbought territory on March 03, 2021. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 27 similar instances where the indicator moved out of overbought territory. In 7 of the 27 cases, the stock moved lower in the following days. This puts the odds of a move lower at 26%.
The Stochastic Indicator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
FSR broke above its upper Bollinger Band on February 26, 2021. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on February 12, 2021. You may want to consider a long position or call options on FSR as a result. In 7 of 38 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 18%.
The Moving Average Convergence Divergence (MACD) for FSR just turned positive on February 09, 2021. Looking at past instances where FSR's MACD turned positive, the stock continued to rise in 3 of 22 cases over the following month. The odds of a continued upward trend are 14%.
FSR moved above its 50-day Moving Average on February 12, 2021 date and that indicates a change from a downward trend to an upward trend.
The 10-day Moving Average for FSR crossed bullishly above the 50-day moving average on February 16, 2021. This indicates that the trend has shifted higher and could be considered a buy signal. In 1 of 4 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 25%.
Following a +26.04% 3-day Advance, the price is estimated to grow further. Considering data from situations where FSR advanced for three days, in 33 of 59 cases, the price rose further within the following month. The odds of a continued upward trend are 56%.
The Aroon Indicator entered an Uptrend today. In 26 of 115 cases where FSR Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 23%.
Fundamental Analysis (Ratings)
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 16%. During the last month, the daily ratio of advancing to declining volumes was 2.06 to 1.
The Tickeron SMR rating for this company is 100 (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 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 98, placing this stock worse than average.
The Tickeron Valuation Rating of 94 (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 (0.00) is normal, around the industry mean (15128.37). P/E Ratio (785.86) is within average values for comparable stocks, (582.62). Projected Growth (PEG Ratio) (0.00) is also within normal values, averaging (7.90). Dividend Yield (0.00) settles around the average of (0.69) among similar stocks. P/S Ratio (0.00) is also within normal values, averaging (21.72).
The Tickeron Price Growth Rating for this company is 37 (best 1 - 100 worst), indicating steady price growth. FSR’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 5 (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.
Industry description
Financial conglomerates usually encompass a wide range of financial services including (not necessarily limited to) investment banking, insurance, capital raising/underwriting, trading of financial securities, investment advisory services, wealth management of high net-worth individuals, and retail banking. Think Citigroup, American Express Company, ING Group.
Industry's Market Caps
The average market capitalization across the Financial Conglomerates Industry is 1.1B. The market cap for tickers in the group ranges from 755.4K to 146.9B. C holds the highest valuation in this group at 146.9B. The lowest valued company is FCRE at 755.4K.
Industry's high and low price movers
The average weekly price growth across all stocks in the Financial Conglomerates Industry was -5.55%. For the same Industry, the average monthly price growth was -7.2%, and the average quarterly price growth was 33.42%. COHN experienced the highest price growth at 130.01%, while TDACU experienced the biggest fall at -27.17%.
- 2/20/21 3:01 AM: Fisker Inc - Ordinary Shares - (FSR, $17.99) was a top loser this week, declining -5.27%. Expect a Downtrend reversal
- 2/10/21 3:31 AM: Fisker Inc - Ordinary Shares - (FSR, $15.74) was a top weekly gainer, with a +5.99% jump. Expect an Uptrend reversal
- 2/4/21 2:53 AM: Fisker Inc - Ordinary Shares - (FSR, $14.89) was a top loser this week, declining -10.46%. Expect a Downtrend continuation
Industry's volume movers
The average weekly volume growth across all stocks in the Financial Conglomerates Industry was -31.31%. For the same stocks of the Industry, the average monthly volume growth was 18.47% and the average quarterly volume growth was 113.95%
Industry's Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 54
P/E Growth Rating: 91
Price Growth Rating: 63
SMR Rating: 98
Profit Risk Rating: 98
Seasonality Score: 3 (-100 ... +100)
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