Mark Hickson, a director at Fisker (FSR), recently picked up 44,900 shares. The buy increased his stake by 259 percent, and came to a total purchase price just over $983,000.
The buy comes a day after another director picked up 11,359 shares, paying nearly $248,000, and the day before that a third director bought 1,175 shares, paying just under $25,000. Prior to that, some company insiders including a major holder, have sold shares.
Insiders own roughly 3.2 percent of the electric vehicle company, which went public earlier this year.
- This Company’s Share Price has Increased 1650% Since 2016.
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In the past year, shares are up roughly 31 percent, in line with the overall stock market. The stock has been making up for lost ground in recent weeks, as electric vehicle companies have been moving higher thanks to the latest infrastructure bill.
Action to take: The company is in an early stage, so it’s far from profitability. However, electric vehicle firms have the potential to move higher once they hit a production stride, which Fisker could do in time. This could be a strong long-term holding, given the early-stage nature of the company.
With shares trending up, traders can make a short-term move with an options trade. The May $25 calls last went for about $3.30, a hefty premium already pricing in the possibility of a move higher. Traders might still like the trade, as a continued move higher could still lead to high double-digit returns for the company.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.