Fisker soars as company announces expanded deliveries

Shares of Fisker Inc (NYSE:) soared as much as 14% in early trading Tuesday morning after the electric automaker announced that it expects to ramp deliveries of the Ocean to 300 vehicle per day. As of September 26, 2023, the electric vehicle manufacturer has successfully produced and built 5,000 Fisker Ocean SUVs.

“As we complete the third quarter and move into the fourth, we are preparing to significantly increase our pace of deliveries in the US and Europe. We are expanding both our teams and our physical locations, and we are targeting deliveries of 300 vehicle per day to meet strong demand for the Fisker Ocean.” Said CEO Henrik Fisker in the company’s press release Tuesday morning.

To date, Fisker has successfully handed over more than 900 vehicles to customers in both its European and U.S. launch markets, and there are several hundred more deliveries anticipated for this week.

The stock has fallen 27% so far this year. The next financial reporting date for FSR is set for November 1, 2023, and the consensus EPS forecast for the current quarter is -$0.19.

Shares of FSR are up 14.12% in early trading on Tuesday.