Wall Street Zen Upgrades Faraday Future Intelligent Electric (NASDAQ:FFAI) to “Hold”

Faraday Future Intelligent Electric (NASDAQ:FFAI) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Monday, September 21st. One investment 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $750.00.

Faraday Future Intelligent Electric Price Performance

FFAI stock opened at $1.41 on Friday. 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 business has a 50 day simple moving average of $3.63 and a 200-day simple moving average of $30.56. The firm has a market capitalization of $5.44 million, a PE ratio of -0.01 and a beta of 5.65. Faraday Future Intelligent Electric has a 1 year low of $1.25 and a 1 year high of $252.00.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($17.38) EPS for the quarter, beating the consensus estimate 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. Equities research analysts anticipate that Faraday Future Intelligent Electric will post -63.94 earnings per share for the current fiscal year.

Institutional Trading of Faraday Future Intelligent Electric

Several hedge funds have recently made changes to their positions in FFAI. Bank of America Corp DE grew its position in Faraday Future Intelligent Electric by 64.2% in the first quarter. Bank of America Corp DE now owns 159,807 shares of the company’s stock worth $44,000 after acquiring an additional 62,510 shares during the period. Aristides Capital LLC purchased a new stake in Faraday Future Intelligent Electric in the fourth quarter valued at $100,000. Caitong International Asset Management Co. Ltd raised its position in Faraday Future Intelligent Electric by 9,352.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 145,939 shares of the company’s stock valued at $149,000 after purchasing an additional 144,395 shares during the period. Abel Hall LLC acquired a new position in shares of Faraday Future Intelligent Electric in the 1st quarter valued at $42,000. Finally, Kaufman Rossin Wealth LLC purchased a new position in shares of Faraday Future Intelligent Electric during the 1st quarter worth $43,000. Hedge funds and other institutional investors own 71.74% of the company’s stock.

About Faraday Future Intelligent Electric

Faraday Future Intelligent Electric Inc is a California-based technology and electric vehicle company focused on developing premium, intelligent electric vehicles. Its business combines vehicle engineering with software, artificial intelligence, connectivity and autonomous-driving technologies to create what it describes as a connected mobility ecosystem.

The company’s primary product is the FF 91, a luxury electric vehicle designed with high-performance capabilities, advanced driver-assistance features and an integrated digital user experience.