Faraday Future Intelligent Electric (NASDAQ:FFAI) Stock Price Up 0.9% - Here's What Happened

Key Points

• Shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) increased by 0.9% during trading, reaching a last traded price of $1.74.
• The company reported a significant negative net margin of 54,380.62% and negative return on equity of 187.07% in its latest quarterly earnings.
• CEO Yueting Jia purchased 98,000 shares at an average price of $1.81, increasing his holdings by 22.59%.

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI - Get Free Report)'s share price shot up 0.9% during trading on Monday . The stock traded as high as $1.80 and last traded at $1.74. 5,439,198 shares changed hands during trading, a decline of 58% from the average session volume of 13,103,318 shares. The stock had previously closed at $1.72.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Faraday Future Intelligent Electric from a "hold" rating to a "sell" rating in a report on Friday, August 22nd.

Faraday Future Intelligent Electric Price Performance

The stock has a fifty day moving average price of $2.25. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 1.19.

Faraday Future Intelligent Electric (NASDAQ:FFAI - Get Free Report) last released its quarterly 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 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%.

Insider Buying and Selling

In other Faraday Future Intelligent Electric news, CEO Yueting Jia purchased 98,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average cost of $1.81 per share, with a total value of $177,380.00. Following the acquisition, the chief executive officer owned 531,838 shares in the company, valued at approximately $962,626.78. This trade represents a 22.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 273,936 shares of company stock valued at $576,028. 0.35% of the stock is currently owned by insiders.

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.