Key Points
- Chairman Jiawei Wang sold 4,957 FFAI shares at an average price of $2.79, generating $13,830.03. The sale, which covered tax withholding tied to vested equity awards, reduced his direct ownership by 37.62% to 8,219 shares.
- Faraday Future reported quarterly revenue of $0.84 million and a loss of $17.38 per share, although the loss was narrower than analysts’ consensus estimate. Analysts project a full-year loss of $142.29 per share.
- FFAI opened at $2.60 and has a market capitalization of roughly $10.04 million, with a 12-month trading range of $2.58 to $375.00. Analyst sentiment is mixed, resulting in a consensus “Hold” rating.
Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI - Get Free Report) Chairman Jiawei Wang sold 4,957 shares of the business's stock in a transaction that occurred on 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 sale, the chairman directly owned 8,219 shares in the company, valued at approximately $22,931.01. This represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Faraday Future Intelligent Electric Stock Performance
FFAI opened at $2.60 on Thursday. The company's 50 day moving average is $17.83 and its 200 day moving average is $43.38. The company has a current ratio of 0.38, a quick ratio of 0.36 and a debt-to-equity ratio of 87.14. The company 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 12-month low of $2.58 and a 12-month high of $375.00.
Faraday Future Intelligent Electric (NASDAQ:FFAI - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($17.38) earnings per share for the quarter, topping the consensus estimate of ($61.19) by $43.81. The business had revenue of $0.84 million for the quarter. Faraday Future Intelligent Electric had a negative net margin of 21,837.97% and a negative return on equity of 2,531.03%. On average, equities research analysts predict that Faraday Future Intelligent Electric Inc. will post -142.29 EPS for the current year.
Analyst Ratings Changes
A number of brokerages recently issued reports on FFAI. Wall Street Zen upgraded Faraday Future Intelligent Electric from a "sell" rating to a "hold" rating in a research note on Sunday, August 2nd. Weiss Ratings restated a "sell (e+)" rating on shares of Faraday Future Intelligent Electric in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Faraday Future Intelligent Electric has a consensus rating of "Hold" and an average price target of $750.00.
Get Our Latest Research Report on FFAI
Institutional Investors Weigh In On Faraday Future Intelligent Electric
Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers bought a new position in shares of Faraday Future Intelligent Electric in the 3rd quarter valued at about $168,000. JPMorgan Chase & Co. purchased a new position in Faraday Future Intelligent Electric during the 3rd quarter valued at $48,000. Vanguard Group Inc. bought a new position in shares of Faraday Future Intelligent Electric in the third quarter worth about $9,307,000. Intech Investment Management LLC bought a new position in Faraday Future Intelligent Electric in the 3rd quarter worth about $66,000. Finally, UBS Group AG purchased a new position in Faraday Future Intelligent Electric during the 3rd quarter worth $2,391,000. Hedge funds and other institutional investors own 71.74% of the company's stock.
Faraday Future Intelligent Electric Company Profile
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Get Free Report)
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.
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