Insider Buying: Faraday Future Intelligent Electric (NASDAQ:FFAI) CEO Buys 98,000 Shares of Stock

Key Points

• Faraday Future Intelligent Electric's CEO, Yueting Jia, purchased 98,000 shares at an average price of $1.81 each, boosting his total held shares to 531,838.
• The company's stock experienced a 7.4% decline, trading at $1.62, following a report of substantial financial losses in revenue and earnings per share.
• Analyst ratings for Faraday Future have shifted, with Wall Street Zen downgrading the stock from "hold" to "sell."

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI - Get Free Report) CEO Yueting Jia acquired 98,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average price of $1.81 per share, for a total transaction of $177,380.00. Following the completion of the purchase, the chief executive officer directly owned 531,838 shares in the company, valued at $962,626.78. This trade represents a 22.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Yueting Jia also recently made the following trade(s):

• On Tuesday, September 2nd, Yueting Jia acquired 81,600 shares of Faraday Future Intelligent Electric stock. The stock was purchased at an average price of $2.17 per share, for a total transaction of $177,072.00.
• On Monday, August 25th, Yueting Jia acquired 83,775 shares of Faraday Future Intelligent Electric stock. The stock was purchased at an average price of $2.35 per share, for a total transaction of $196,871.25.

Faraday Future Intelligent Electric Trading Down 7.4%

Faraday Future Intelligent Electric stock traded down $0.13 during midday trading on Tuesday, reaching $1.62. The stock had a trading volume of 14,108,532 shares, compared to its average volume of 12,273,710. 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 Inc. has a 12 month low of $0.83 and a 12 month high of $4.82. The business has a 50-day moving average of $2.26.

Faraday Future Intelligent Electric (NASDAQ:FFAI - Get Free Report) last posted its earnings results on Tuesday, August 19th. The company reported ($0.47) earnings per share for the quarter. The company 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%.

Analyst Ratings Changes

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

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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