Faraday Future Intelligent Electric (NASDAQ:FFAI) Chairman Jiawei Wang Sells 4,957 Shares

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) Chairman Jiawei Wang sold 4,957 shares of Faraday Future Intelligent Electric stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.79, for a total value of $13,830.03. Following the completion of the transaction, the chairman owned 8,219 shares in the company, valued at approximately $22,931.01. This represents a 37.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Faraday Future Intelligent Electric Price Performance

FFAI opened at $2.60 on Thursday. The company has a debt-to-equity ratio of 87.14, a current ratio of 0.38 and a quick ratio of 0.36. The stock’s 50 day simple moving average is $17.83 and its 200 day simple moving average is $43.38. The firm has a market cap of $10.04 million, a price-to-earnings ratio of -0.01 and a beta of 5.70. Faraday Future Intelligent Electric Inc. has a 1 year low of $2.58 and a 1 year high of $375.00.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($17.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($61.19) by $43.81. Faraday Future Intelligent Electric had a negative return on equity of 2,531.03% and a negative net margin of 21,837.97%.The firm had revenue of $0.84 million during the quarter. As a group, analysts predict that Faraday Future Intelligent Electric Inc. will post -142.29 earnings per share for the current year.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several hedge funds and other institutional investors have recently modified their holdings of FFAI. Bank of America Corp DE bought a new position in Faraday Future Intelligent Electric in the third quarter worth about $35,000. Caitong International Asset Management Co. Ltd boosted its position in Faraday Future Intelligent Electric by 2,174.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 35,116 shares of the company’s stock valued at $36,000 after acquiring an additional 33,572 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Faraday Future Intelligent Electric during the 3rd quarter valued at approximately $48,000. Verition Fund Management LLC purchased a new position in shares of Faraday Future Intelligent Electric during the 3rd quarter worth approximately $48,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Faraday Future Intelligent Electric by 89.1% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 38,416 shares of the company’s stock worth $39,000 after acquiring an additional 18,102 shares during the period. Hedge funds and other institutional investors own 71.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FFAI shares. Wall Street Zen upgraded shares of Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Faraday Future Intelligent Electric presently has a consensus rating of “Hold” and a consensus target price of $750.00.

Faraday Future Intelligent Electric Company Profile

Faraday Future Intelligent Electric (NASDAQ:FFAI) is an American electric vehicle (EV) manufacturer focused on the development and production of high-performance intelligent electric vehicles. Leveraging a proprietary modular platform, the company aims to deliver a seamless and connected driving experience by integrating advanced hardware with its in-house software architecture. Faraday Future’s vehicles are designed to offer luxury appointments, customizable digital displays, and autonomous driving capabilities, positioning the company in the premium segment of the EV market.

Since its founding in 2014, Faraday Future has unveiled its flagship FF 91 model, showcasing rapid acceleration, long-range battery performance, and over-the-air software updates.