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Bear of the Day: Fisker (FSR)

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It does not take a rocket scientist to realize that the stock market is reeling. The Fed’s hawkish stance has put investors on edge. The bears are beginning to take control and the downside continues to frighten us in the short-term. While it won’t last forever, it is still rough to see. In a market like this, you need to look to companies with the strongest earnings trends. These stocks will stand the test of time and be able to last over the long run.

One way to find these stocks is to lean on the tried and true power of our Zacks Rank. Stocks in the good graces of our Zacks Rank have the strongest earnings trends while those with weak ranks struggle behind the pack. Today’s Bear of the Day is a stock that is not in the good graces of our Zacks Rank. I’m talking about Zacks Rank #5 (Strong Sell) Fisker . Fisker, Inc. focuses on design, development, manufacture, and sale of electric vehicles. The company was founded in 2016 and is headquartered in Manhattan Beach, California.

Fisker is in the Automotive – Domestic industry which ranks in the Bottom 38% of our Zacks Industry Rank. Currently a Zacks Rank#5 (Strong Sell), Fisker has seen some downside action in earnings estimates. Over the last thirty days, analysts have cut their estimates for next year. While the current year Zacks Consensus Estimate is off from a $1.03 loss to a $1.13 loss, next year’s number is off from a 92-cent loss to a 99-cent loss.

Investors looking for other stocks within the same industry should take a closer look at two Zacks Rank #1 (Strong Buy) stocks. These stocks include General Motors (GM - Free Report) and Tesla (TSLA - Free Report) .

 


 


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