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 firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $2.79, for a total transaction of $13,830.03. Following the completion of the transaction, the chairman directly owned 8,219 shares of the company’s stock, valued at approximately $22,931.01. The trade was a 37.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Faraday Future Intelligent Electric Stock Down 5.2%

FFAI opened at $2.21 on Friday. The firm has a market capitalization of $8.53 million, a P/E ratio of -0.01 and a beta of 5.70. Faraday Future Intelligent Electric Inc. has a one year low of $2.16 and a one year high of $361.50. The company has a fifty day moving average price of $16.19 and a 200-day moving average price of $42.30. The company has a debt-to-equity ratio of 87.14, a current ratio of 0.38 and a quick ratio of 0.36.

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

Analyst Ratings Changes

Several research firms have weighed in on FFAI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Wednesday, June 24th. Wall Street Zen raised Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Faraday Future Intelligent Electric has an average rating of “Hold” and an average target price of $750.00.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

A number of institutional investors have recently made changes to their positions in FFAI. Vanguard Group Inc. purchased a new stake in shares of Faraday Future Intelligent Electric during the 3rd quarter valued at $9,307,000. Millennium Management LLC bought a new stake in shares of Faraday Future Intelligent Electric during the 3rd quarter worth $3,661,000. UBS Group AG purchased a new position in Faraday Future Intelligent Electric in the third quarter worth $2,391,000. Geode Capital Management LLC grew its position in Faraday Future Intelligent Electric by 57.2% in the fourth quarter. Geode Capital Management LLC now owns 3,452,855 shares of the company’s stock worth $3,522,000 after acquiring an additional 1,255,899 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in Faraday Future Intelligent Electric in the third quarter valued at $700,000. Institutional investors own 71.74% of the company’s stock.

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.