Faraday Future Intelligent Electric (NASDAQ:FFAI) Announces Quarterly Earnings Results

Faraday Future Intelligent Electric (NASDAQ:FFAI) issued its earnings results on Tuesday. The company reported $0.17 earnings per share for the quarter, FiscalAI reports. Faraday Future Intelligent Electric had a negative return on equity of 518.14% and a negative net margin of 74,517.13%.

Faraday Future Intelligent Electric Stock Performance

Shares of FFAI traded up $0.02 during trading hours on Tuesday, hitting $0.27. The stock had a trading volume of 26,880,822 shares, compared to its average volume of 29,620,006. The firm has a market capitalization of $53.50 million, a PE ratio of -0.15 and a beta of 5.38. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.43 and a quick ratio of 0.42. Faraday Future Intelligent Electric has a 12 month low of $0.23 and a 12 month high of $3.61. The stock has a fifty day moving average price of $0.59 and a 200 day moving average price of $1.02.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FFAI. Wall Street Zen raised shares of Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Friday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Faraday Future Intelligent Electric during the 3rd quarter valued at about $26,000. Bank of America Corp DE purchased a new position in shares of Faraday Future Intelligent Electric in the third quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd grew its position in Faraday Future Intelligent Electric by 2,174.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 35,116 shares of the company’s stock valued at $36,000 after buying an additional 33,572 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Faraday Future Intelligent Electric by 89.1% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 38,416 shares of the company’s stock valued at $39,000 after buying an additional 18,102 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in Faraday Future Intelligent Electric during the fourth quarter valued at approximately $44,000. 71.74% of the stock is owned by hedge funds and other institutional investors.

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.