Shares of electric car company Fisker (NYSE: FSR) are crashing in Monday trading, down 8.1% through 2:30 p.m. ET, hurt by a pair of negative reports from Wall Street firms.

Early Monday morning, Evercore ISI's Chris McNally downgraded Fisker stock from outperform (sell) to in line (hold). R.F. Lafferty analyst Jaime Perez quickly piled on by lowering that firm's price target on Fisker from $7 a share to $3 a share, as TheFly.com reported.

The news wasn't all bad. Lafferty's new price target of $3 a share is actually 50% above the $2 target that Evercore assigned to Fisker stock -- and nearly 100% above Fisker's current share price of $1 and change. Plus, Lafferty retained its buy rating on the shares.

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Source Fool.com