Shares of electric vehicle maker Fisker (NYSE:FSR) surged nearly 6% today after the company initiated this year’s final over-the-air (OTA) software update for all of its Ocean SUVs. The latest update can be remotely authorized by all Ocean SUV owners.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The company’s previous OTA update came in November. Fisker has addressed multiple issues and added a range of new features with these updates, aiming to maintain this pace into next year.
Additionally, the company has undertaken several factory updates this year. In the upcoming quarter, Fisker plans to go for further updates to improve functionalities. These include enhancements in the SolarSky, torque split between front and rear wheels, one-pedal driving, and a hill-holding function. It also plans to introduce a Pet Mode and additional ADAS features.
Impressively, the Fisker Ocean SUV won the Best Full Electric Vehicle and SUV of the Year awards at the 2023 Automobile Awards in France this week. Still, Fisker shares have tanked by nearly 78% over the past year. Following this slump, Henrik Fisker, the Chairman and CEO of the company, recently noted that its present share price does not reflect the long-term opportunities for FSR and the achievements it has made so far.
Is FSR Stock a Good Investment?
Overall, the Street has a Hold consensus rating on Fisker and the average FSR price target of $3.91 points to a significant 154.2% upside potential in the stock.
