Faraday Future Intelligent Electric (NASDAQ:FFAI – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Faraday Future Intelligent Electric has an average rating of “Hold” and a consensus target price of $750.00.
View Our Latest Stock Report on FFAI
Faraday Future Intelligent Electric Stock Performance
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. Faraday Future Intelligent Electric had a negative return on equity of 2,531.03% and a negative net margin of 21,837.97%.The company had revenue of $0.84 million for the quarter. As a group, research analysts predict that Faraday Future Intelligent Electric will post -63.94 earnings per share for the current year.
Hedge Funds Weigh In On Faraday Future Intelligent Electric
A number of hedge funds and other institutional investors have recently bought and sold shares of FFAI. Bank of America Corp DE grew its holdings in shares of Faraday Future Intelligent Electric by 64.2% in the first quarter. Bank of America Corp DE now owns 159,807 shares of the company’s stock valued at $44,000 after purchasing an additional 62,510 shares in the last quarter. Abel Hall LLC purchased a new stake in Faraday Future Intelligent Electric during the 1st quarter worth approximately $42,000. Kaufman Rossin Wealth LLC acquired a new stake in Faraday Future Intelligent Electric during the 1st quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd lifted its holdings in Faraday Future Intelligent Electric by 9,352.0% during the 4th 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 in the last quarter. Finally, Aristides Capital LLC purchased a new position in Faraday Future Intelligent Electric in the 4th quarter valued at approximately $100,000. 71.74% of the stock is currently owned by hedge funds and other institutional investors.
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.
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