Wall Street Zen Downgrades Faraday Future Intelligent Electric (NASDAQ:FFAI) to Sell

Key Points

• Faraday Future Intelligent Electric (NASDAQ:FFAI) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen.
• The company's quarterly earnings report showed a loss of ($0.47) EPS and significant negative financial metrics, including a net margin of -54,380.62% and return on equity of -187.07%.
• Despite the downgrade, shares of Faraday Future opened at $2.46, reflecting an increase of 11.8% on the same day.

Wall Street Zen cut shares of Faraday Future Intelligent Electric (NASDAQ:FFAI - Free Report) from a hold rating to a sell rating in a research report report published on Friday.

Faraday Future Intelligent Electric Price Performance

FFAI stock remained flat at $2.38 during midday trading on Friday. The company had a trading volume of 7,590,172 shares, compared to its average volume of 13,999,829. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.34 and a quick ratio of 0.24. The firm's 50-day simple moving average is $2.19. Faraday Future Intelligent Electric has a one year low of $0.83 and a one year high of $6.62.

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

Insider Transactions at Faraday Future Intelligent Electric

In other news, CEO Yueting Jia bought 83,775 shares of Faraday Future Intelligent Electric stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $2.35 per share, for a total transaction of $196,871.25. Following the purchase, the chief executive officer directly owned 352,238 shares of the company's stock, valued at approximately $827,759.30. The trade was a 31.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 94,336 shares of company stock valued at $221,576. Company insiders own 0.35% of the company's stock.

About Faraday Future Intelligent Electric

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.