HomeMarket News The Rise and Fall of Fisker (FSR) Stock: Understanding the...

The Rise and Fall of Fisker (FSR) Stock: Understanding the 5 Biggest Buyers

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FSR stock - The 5 Biggest Buyers of Fisker (FSR) Stock

Source: Eric Broder Van Dyke / Shutterstock.com

Since the commencement of the year, Fisker (NYSE: FSR) stock has tumbled over 90%, leaving investors in a state of uncertainty regarding the eventual upturn.

The recent announcement of a financing pledge of $150 million through the sale of $166.67 million in 2024 senior secured convertible notes signals possible dilution concerns for existing shareholders.

Moreover, Fisker disclosed plans for a 15% reduction in its workforce as part of its shift from a direct-to-consumer model to a dealer-partner approach aimed at cost reduction.

Recent estimates revealed an inventory of 4,700 vehicles valued at over $200 million as of March 15. Despite producing 10,193 vehicles in 2023 and delivering 4,929, demand seems to pose a challenge for the company.

Vehicle production, known for its substantial costs, has been a financial drain on Fisker, compounded by fierce industry competition and the onset of EV price wars.

However, a glimmer of hope emerges with reports of Nissan (OTCMKTS: NSANY) weighing a potential investment upwards of $400 million in Fiskerโ€™s truck platform. The deal, although not confirmed, could materialize by the end of the month.

Exploring the Primary FSR Stock Investors

Monitoring institutional ownership proves critical as significant investors offer stability and backing for equities. Nevertheless, Fiskerโ€™s institutional backing remains tepid.

A total of 237 13F filers disclosed FSR stock holdings in the fourth quarter, down from 249 filers in the preceding quarter. Overall shares owned by these filers declined by 8.65% to 47.51 million.

In an even more bearish turn, hedge funds reduced their positions, with 44 disclosing FSR holdings compared to 54 previously. Hedge fund ownership plummeted by 21.9% to 28.51 million shares.

Delving into recent 13F statistics, letโ€™s unveil Fiskerโ€™s major buyers:

  1. Jane Street acquired 4.20 million shares, amplifying its stake to 4.49 million shares.
  2. Invesco procured 3.26 million shares, increasing its holding to 4.93 million shares.
  3. Two Sigma purchased 1.60 million shares, previously holding none prior to Q4.
  4. Citigroup (NYSE: C) bought 1 million shares, elevating its position to 1.08 million shares.
  5. The National Bank of Canada acquired 1 million shares, boosting its ownership to 2.01 million shares.

About Penny Stocks and Low-Volume Stocks: In line with our commitment to integrity, itโ€™s paramount to note that InvestorPlace refrains from discussing companies with a market cap below $100 million or trading volumes under 100,000 shares daily. These stocks, often termed โ€œpenny stocks,โ€ are prime territory for market manipulation and fraudulent activities.

Further Reading: Discover the Ins and Outs of Penny Stocks Without Falling Victim to Scams

As of the publication date, Eddie Pan did not hold any positionsโ€”directly or indirectlyโ€”in the securities referenced in this piece. The viewpoints expressed herein solely represent the writerโ€™s perspective, subject to InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity, contributing to InvestorPlaceโ€™s Todayโ€™s Market team, which focuses on the latest developments involving popular equities.

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