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

by · The Cerbat Gem

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI – Get Free Report) CEO Yueting Jia sold 8,262 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $2.79, for a total transaction of $23,050.98. Following the completion of the sale, the chief executive officer owned 17,126 shares in the company, valued at $47,781.54. This represents a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Faraday Future Intelligent Electric Stock Down 6.1%

Shares of Faraday Future Intelligent Electric stock traded down $0.17 on Wednesday, reaching $2.60. The stock had a trading volume of 969,883 shares, compared to its average volume of 1,656,099. The company has a 50 day moving average price of $17.83 and a 200 day moving average price of $43.38. The company has a quick ratio of 0.36, a current ratio of 0.38 and a debt-to-equity ratio of 87.14. Faraday Future Intelligent Electric Inc. has a 1 year low of $2.58 and a 1 year high of $375.00. The stock has a market capitalization of $10.04 million, a P/E ratio of -0.01 and a beta of 5.70.

Faraday Future Intelligent Electric (NASDAQ:FFAI – Get Free Report) 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. The company had revenue of $0.84 million during the quarter. Faraday Future Intelligent Electric had a negative net margin of 21,837.97% and a negative return on equity of 2,531.03%. As a group, equities research analysts forecast that Faraday Future Intelligent Electric Inc. will post -142.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FFAI shares. Wall Street Zen upgraded 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 research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $750.00.

Check Out Our Latest Research Report on FFAI

Institutional Trading of Faraday Future Intelligent Electric

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new position in Faraday Future Intelligent Electric during the 3rd quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Faraday Future Intelligent Electric by 2,174.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 35,116 shares of the company’s stock worth $36,000 after buying an additional 33,572 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of 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 worth $39,000 after buying an additional 18,102 shares during the period. Abel Hall LLC acquired a new stake in shares of Faraday Future Intelligent Electric during the first quarter worth $42,000. Finally, Kaufman Rossin Wealth LLC purchased a new stake in shares of Faraday Future Intelligent Electric during the first quarter valued at $43,000. 71.74% of the stock is currently owned by institutional investors and hedge funds.

Faraday Future Intelligent Electric Company Profile

(Get Free Report)

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.

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