Faraday Future Intelligent Electric (NASDAQ:FFAI) CEO Yueting Jia Sells 8,262 Shares of Stock

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) CEO Yueting Jia sold 8,262 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.79, for a total transaction of $23,050.98. Following the transaction, the chief executive officer owned 17,126 shares in the company, valued at approximately $47,781.54. This trade represents a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Faraday Future Intelligent Electric Price Performance

Faraday Future Intelligent Electric stock opened at $2.60 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.38 and a debt-to-equity ratio of 87.14. The stock has a market cap of $10.04 million, a P/E ratio of -0.01 and a beta of 5.70. The company’s 50 day moving average price is $17.83 and its two-hundred day moving average price is $43.38. Faraday Future Intelligent Electric Inc. has a 52 week low of $2.58 and a 52 week high of $375.00.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($17.38) EPS for the quarter, topping analysts’ consensus estimates of ($61.19) by $43.81. The business 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%. On average, equities analysts predict that Faraday Future Intelligent Electric Inc. will post -142.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Faraday Future Intelligent Electric

A number of institutional investors have recently added to or reduced their stakes in FFAI. Bank of America Corp DE purchased a new stake in shares of Faraday Future Intelligent Electric in the third quarter worth about $35,000. Caitong International Asset Management Co. Ltd lifted its stake in Faraday Future Intelligent Electric by 2,174.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 35,116 shares of the company’s stock worth $36,000 after purchasing an additional 33,572 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Faraday Future Intelligent Electric by 89.1% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 38,416 shares of the company’s stock valued at $39,000 after purchasing an additional 18,102 shares during the period. Abel Hall LLC bought a new position in Faraday Future Intelligent Electric in the 1st quarter valued at $42,000. Finally, Kaufman Rossin Wealth LLC purchased a new position in shares of Faraday Future Intelligent Electric during the 1st quarter valued at $43,000. Hedge funds and other 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.