Faraday Future Intelligent Electric (NASDAQ:FFAI) Shares Down 4.6% – Here’s What Happened

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) was down 4.6% during trading on Thursday . The stock traded as low as $1.38 and last traded at $1.44. Approximately 10,910,297 shares traded hands during trading, a decline of 8% from the average daily volume of 11,884,374 shares. The stock had previously closed at $1.51.

Analyst Ratings Changes

Several equities research analysts recently commented on FFAI shares. Wall Street Zen cut Faraday Future Intelligent Electric from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Faraday Future Intelligent Electric Stock Down 4.6%

The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $1.99 and a 200 day simple moving average of $1.64.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last announced its quarterly earnings data on Tuesday, August 19th. The company reported ($0.47) EPS for the quarter. Faraday Future Intelligent Electric had a negative net margin of 54,380.62% and a negative return on equity of 187.07%. The firm had revenue of $0.05 million during the quarter.

Insider Buying and Selling at Faraday Future Intelligent Electric

In other Faraday Future Intelligent Electric news, CEO Yueting Jia bought 98,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average price of $1.81 per share, for a total transaction of $177,380.00. Following the acquisition, the chief executive officer directly owned 531,838 shares of the company’s stock, valued at approximately $962,626.78. The trade was a 22.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 273,936 shares of company stock valued at $576,028. Corporate insiders own 0.35% of the company’s stock.

Faraday Future Intelligent Electric Company Profile

Faraday Future Intelligent Electric Inc engages in the design, development, manufacture, engineering, sale, and distribution of electric vehicles and related products in the United States and internationally. The company was founded in 2014 and is headquartered in Gardena, California.