Faraday Future Intelligent Electric (NASDAQ:FFAI) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Faraday Future Intelligent Electric (NASDAQ:FFAI) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Wednesday, June 24th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $750.00.

Faraday Future Intelligent Electric Trading Down 7.4%

NASDAQ FFAI opened at $1.63 on Friday. The company has a debt-to-equity ratio of 87.14, a quick ratio of 0.36 and a current ratio of 0.38. Faraday Future Intelligent Electric has a one year low of $1.56 and a one year high of $262.50. The company has a 50-day simple moving average of $5.47 and a 200-day simple moving average of $32.83. The firm has a market capitalization of $6.29 million, a PE ratio of -0.01 and a beta of 5.65.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last released its quarterly earnings data 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. Faraday Future Intelligent Electric had a negative net margin of 21,837.97% and a negative return on equity of 2,531.03%. The firm had revenue of $0.84 million for the quarter. On average, equities analysts forecast that Faraday Future Intelligent Electric will post -63.94 earnings per share for the current year.

Institutional Trading of Faraday Future Intelligent Electric

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Faraday Future Intelligent Electric by 64.2% in the 1st quarter. Bank of America Corp DE now owns 159,807 shares of the company’s stock valued at $44,000 after acquiring an additional 62,510 shares during the period. Abel Hall LLC acquired a new position in Faraday Future Intelligent Electric during the 1st quarter worth $42,000. Kaufman Rossin Wealth LLC bought a new position in shares of Faraday Future Intelligent Electric in the first quarter worth $43,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 worth $149,000 after purchasing an additional 144,395 shares in the last quarter. Finally, Aristides Capital LLC bought a new position in shares of Faraday Future Intelligent Electric in the fourth quarter worth $100,000. 71.74% of the stock is currently owned by institutional investors.

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.