Faraday Future Intelligent Electric (NASDAQ:FFAI) Lowered to “Sell” Rating by 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 report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Faraday Future Intelligent Electric presently has an average rating of “Hold” and a consensus target price of $750.00.

Faraday Future Intelligent Electric Trading Down 0.6%

Shares of FFAI stock opened at $1.76 on Friday. Faraday Future Intelligent Electric has a 12 month low of $1.56 and a 12 month high of $270.75. The company has a market cap of $6.79 million, a PE ratio of -0.01 and a beta of 5.65. 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 business’s 50 day moving average is $5.95 and its two-hundred day moving average is $33.55.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($17.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($61.19) by $43.81. The business 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%. Equities analysts predict that Faraday Future Intelligent Electric will post -63.94 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FFAI. Aristides Capital LLC acquired a new stake in Faraday Future Intelligent Electric during the fourth quarter worth about $100,000. Caitong International Asset Management Co. Ltd raised its holdings in Faraday Future Intelligent Electric by 9,352.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 145,939 shares of the company’s stock valued at $149,000 after acquiring an additional 144,395 shares in the last quarter. Abel Hall LLC bought a new stake in shares of Faraday Future Intelligent Electric in the 1st quarter worth approximately $42,000. Kaufman Rossin Wealth LLC acquired a new stake in shares of Faraday Future Intelligent Electric during the 1st quarter worth approximately $43,000. Finally, Bank of America Corp DE grew its holdings in shares of Faraday Future Intelligent Electric by 64.2% during the 1st quarter. Bank of America Corp DE now owns 159,807 shares of the company’s stock worth $44,000 after purchasing an additional 62,510 shares in the last quarter. Institutional investors and hedge funds own 71.74% of the company’s stock.

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.