Faraday Future Intelligent Electric (NASDAQ:FFAI) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Faraday Future Intelligent Electric (NASDAQ:FFAI) from a sell rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Monday, September 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $750.00.

Faraday Future Intelligent Electric Price Performance

Faraday Future Intelligent Electric stock opened at $1.61 on Friday. The company has a market cap of $6.21 million, a P/E ratio of -0.01 and a beta of 5.65. Faraday Future Intelligent Electric has a one year low of $1.25 and a one year high of $252.00. The business has a fifty day moving average of $3.93 and a two-hundred day moving average of $30.98. 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 (NASDAQ:FFAI) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($17.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($61.19) by $43.81. Faraday Future Intelligent Electric had a negative return on equity of 2,531.03% and a negative net margin of 21,837.97%.The business had revenue of $0.84 million during the quarter. As a group, analysts predict that Faraday Future Intelligent Electric will post -63.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Abel Hall LLC purchased a new stake in Faraday Future Intelligent Electric during the 1st quarter worth $42,000. Kaufman Rossin Wealth LLC purchased a new position in Faraday Future Intelligent Electric in the first quarter valued at about $43,000. Bank of America Corp DE lifted its stake in shares of Faraday Future Intelligent Electric by 64.2% during the first 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. Aristides Capital LLC purchased a new stake in shares of Faraday Future Intelligent Electric in the fourth quarter worth about $100,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Faraday Future Intelligent Electric by 9,352.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 145,939 shares of the company’s stock worth $149,000 after buying an additional 144,395 shares during the period. Institutional investors and hedge funds own 71.74% of the company’s stock.

Faraday Future Intelligent Electric Company Profile

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.