Faraday Future Intelligent Electric (NASDAQ:FFAI) Shares Up 0.9% - Here's Why

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 traded up 0.9% during mid-day trading on Monday . The company traded as high as $1.80 and last traded at $1.74. 5,439,198 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 13,103,318 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Faraday Future Intelligent Electric from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd.

Faraday Future Intelligent Electric Price Performance

The stock has a 50-day moving average price of $2.25. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.34 and a quick ratio of 0.24.

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 for the quarter. Faraday Future Intelligent Electric had a negative return on equity of 187.07% and a negative net margin of 54,380.62%.The business had revenue of $0.05 million during the quarter.

Insider Activity at Faraday Future Intelligent Electric

In other Faraday Future Intelligent Electric news, CEO Yueting Jia purchased 98,000 shares of Faraday Future Intelligent Electric stock in a transaction dated Monday, September 8th. The stock was purchased at an average price of $1.81 per share, with a total value of $177,380.00. Following the transaction, the chief executive officer directly owned 531,838 shares of the company's stock, valued at $962,626.78. This trade represents a 22.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have bought 273,936 shares of company stock worth $576,028. 0.35% of the stock is owned by corporate 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.