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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 Fisker’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, Fisker’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, let’s unveil Fisker’s major buyers:
- Jane Street acquired 4.20 million shares, amplifying its stake to 4.49 million shares.
- Invesco procured 3.26 million shares, increasing its holding to 4.93 million shares.
- Two Sigma purchased 1.60 million shares, previously holding none prior to Q4.
- Citigroup (NYSE: C) bought 1 million shares, elevating its position to 1.08 million shares.
- The National Bank of Canada acquired 1 million shares, boosting its ownership to 2.01 million shares.
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As of the publication date, Eddie Pan did not hold any positions—directly or indirectly—in the securities referenced in this piece. The viewpoints expressed herein solely represent the writer’s perspective, subject to InvestorPlace.com Publishing Guidelines.
