Faraday Future Intelligent Electric (NASDAQ:FFAI) Chairman Sells $13,830.03 in Stock

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) Chairman Jiawei Wang sold 4,957 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were 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 $22,931.01. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Faraday Future Intelligent Electric Trading Down 6.1%

Faraday Future Intelligent Electric stock traded down $0.17 during mid-day trading on Wednesday, hitting $2.60. The company’s stock had a trading volume of 969,883 shares, compared to its average volume of 1,656,099. The stock’s fifty day moving average is $17.83 and its two-hundred 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 firm has a market capitalization of $10.04 million, a PE 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 posted its earnings results on Thursday, August 13th. The company reported ($17.38) EPS 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 company had revenue of $0.84 million for the quarter. On average, analysts anticipate that Faraday Future Intelligent Electric Inc. will post -142.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Wednesday, June 24th. Wall Street Zen raised shares of Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $750.00.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in shares of Faraday Future Intelligent Electric in the third quarter worth $35,000. Caitong International Asset Management Co. Ltd increased its position in shares of 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 worth $36,000 after acquiring an additional 33,572 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Faraday Future Intelligent Electric by 89.1% in 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 acquiring an additional 18,102 shares in the last quarter. Abel Hall LLC acquired a new stake in shares of Faraday Future Intelligent Electric in the first quarter valued at $42,000. Finally, Kaufman Rossin Wealth LLC purchased a new position in Faraday Future Intelligent Electric in the first quarter valued at $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 (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.