Faraday Future Intelligent Electric (NASDAQ:FFAI) Rating Increased to Hold at Zacks Research

Key Points

• Faraday Future Intelligent Electric's stock rating has been upgraded to a "hold" by Zacks Research, while other firms like Weiss Ratings and Wall Street Zen have issued "sell" ratings.
• The company reported a net income of ($0.47) earnings per share for the latest quarter, along with negative net margins and return on equity.
• CEO Yueting Jia increased their ownership in the company by purchasing 98,000 shares at an average price of $1.81 each, indicating confidence in the firm's prospects.

Faraday Future Intelligent Electric (NASDAQ:FFAI - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on FFAI. Weiss Ratings restated a "sell (e+)" rating on shares of Faraday Future Intelligent Electric in a research note on Saturday, September 27th. Wall Street Zen downgraded shares of Faraday Future Intelligent Electric from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce".

Faraday Future Intelligent Electric Price Performance

FFAI opened at $1.44 on Wednesday. The company's 50 day moving average is $1.99 and its 200-day moving average is $1.64. Faraday Future Intelligent Electric has a 1-year low of $0.83 and a 1-year high of $4.46. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.24 and a current ratio of 0.34.

Faraday Future Intelligent Electric (NASDAQ:FFAI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The company reported ($0.47) earnings per share 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 company had revenue of $0.05 million during the quarter.

Insider Activity

In other news, CEO Yueting Jia purchased 98,000 shares of the company's stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of $1.81 per share, for a total transaction of $177,380.00. Following the transaction, the chief executive officer owned 531,838 shares of the company's stock, valued at approximately $962,626.78. This trade represents a 22.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 273,936 shares of company stock valued at $576,028. 0.35% of the stock is currently owned by insiders.

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.

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