- Shares of Fisker jumped 30% on Monday following the electric carmaker’s latest news.
- The company said it expects to be profitable this year and has a deal to use charging stations in North America.
- Reservations for its Ocean SUV rose in the fourth quarter.
Shares of Fisker surged for a third straight Monday, as the electric automaker announced profitability and a charging station deal appeared to take precedence over a quarterly loss that missed expectations.
The stock rose as much as 36% to $7.75, a new high in more than two weeks, before paring those gains and still closing sharply 30% higher at $7.41.
The surge followed the release of the company’s fourth-quarter financial results. In it, Fisker reiterated its 2023 production target of up to 42,400 vehicles, in stark contrast to EV rival Lucid’s weaker production target last week as it deals with supply chain issues.
Fisker also said reservations for its Ocean SUV rose to about 65,000 from 62,000 at the end of October.
Additionally, management forecasts “likely positive” earnings before interest, taxes, depreciation, and amortization in 2023.
“Our bookings keep increasing. We’re going to be profitable this year, which is very unusual for a start-up EV company,” Chief Executive Henrik Fiske said on Fox Business on Monday.
The company also said Monday that it has an agreement with ChargePoint that will give Fisker EV owners access to more than 210,000 active ports and more than 400,000 roaming ports in North America.
Referring to rival Tesla, Fisker told Fox Business that the company run by Elon Musk has 7,000 chargers in the United States. In the case of Tesla, it says it has more than 40,000 Superchargers around the world.
“ChargePoint and its affiliates have 400,000 of them… so I think it’s definitely a game changer. It’s going to be really easy to charge your Fisker Ocean,” Fisker said.
Fisker did post a fourth-quarter loss of $0.54 per share, up from a loss of $0.47 per share a year ago and worse than the $0.41 per share loss FactSet analysts were expecting.
Fisker’s stock has been hammered in value last year, with its market value down 51 percent to $2.26 billion.