Jiawei Wang Sells 4,957 Shares of Faraday Future Intelligent Electric (NASDAQ:FFAI) Stock

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) Chairman Jiawei Wang sold 4,957 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $2.79, for a total transaction of $13,830.03. Following the completion of the sale, the chairman owned 8,219 shares in the company, valued at $22,931.01. This represents a 37.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Faraday Future Intelligent Electric Stock Down 10.4%

Shares of NASDAQ:FFAI opened at $2.33 on Friday. The company has a fifty day moving average of $17.01 and a 200-day moving average of $42.59. The company has a market capitalization of $8.99 million, a PE ratio of -0.01 and a beta of 5.70. 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 Inc. has a 52-week low of $2.30 and a 52-week high of $364.50.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last announced its quarterly 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 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 EPS for the current fiscal year.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers acquired a new position in shares of Faraday Future Intelligent Electric in the 3rd quarter valued at about $168,000. JPMorgan Chase & Co. acquired a new position in Faraday Future Intelligent Electric in the third quarter valued at approximately $48,000. Vanguard Group Inc. bought a new position in shares of Faraday Future Intelligent Electric during the 3rd quarter worth approximately $9,307,000. Intech Investment Management LLC acquired a new stake in shares of Faraday Future Intelligent Electric during the 3rd quarter worth approximately $66,000. Finally, UBS Group AG bought a new stake in shares of Faraday Future Intelligent Electric in the 3rd quarter valued at $2,391,000. Institutional investors and hedge funds own 71.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FFAI. Weiss Ratings reissued a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a research note on Wednesday, June 24th. 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. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Faraday Future Intelligent Electric has an average rating of “Hold” and an average target price of $750.00.

About Faraday Future Intelligent Electric

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.