The stock of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) decreased by -$2.96 on Monday to finish at $9.48, down -23.79 percent. The last five days have seen an average of 1,721,366 shares of common stock traded. 12 times new highs were reached in the current year, with a fall of -$13.7400. The average number of shares traded over the last 20 days was 920,471, while the average volume over the last 50 days totaled 973,786.
FFIE stock dropped -53.84% since last month. On 08/28/23, the company’s shares reached a one-month low of $9.2700. The stock touched a high of $140.40 on 02/06/23, after rallying from a low of $11.84 in 52 weeks. The price of FFIE stock has declined by -59.18% or -$13.7400 this year, reaching a new high 12 times. Still, the stock price is down -93.25% from the 52-week high.
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Insider Transactions
FFIE stock investors should be aware that Faraday Future Intelligent Electric Inc. (FFIE) stock had its last reported insider trading activity 74 days ago on Jun 16. On Jun 16, Global Chief Exec. Officer Chen Xuefeng acquired 1 shares at $100.00 each. This transaction resulted in the insider spending $100.
Financial Health
For the three months ended June 29, Faraday Future Intelligent Electric Inc.’s quick ratio was 0.60, while its current ratio was 0.60, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.24, and the total debt to equity ratio is 0.27. Based on annual data, it had gross profit of $9.44 million and revenue of $437.14 million.
Earnings Surprise
According to Faraday Future Intelligent Electric Inc.’s quarterly financial report for the quarter that ended June 29. Net income for the quarter came in at -$0.61 million, while revenues rose by 100.0% to $0.0. It was predicted that Faraday Future Intelligent Electric Inc.’s quarterly earnings would be -$0.1, but it ended up being -$0.08, beating the consensus by -25.00%. EBITDA was -$41.87 million for the quarter. At the end of Faraday Future Intelligent Electric Inc.’s most recent quarter ended June 29, its liabilities totaled 289.79 million, while its total debt was $109.95 million. Equity owned by shareholders amounts to $1.49 billion.
Technical Picture
Here’s a quick look at Faraday Future Intelligent Electric Inc.’s (FFIE) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 21.81%, suggesting the stock is oversold, with a 207.45% historical volatility rate.
The stochastic %K and %D were 5.00% and 6.05% respectively, while the average true range (ATR) was 2.8900. Based on the 14-day stochastic reading of 1.44%, the RSI (14) reading is 28.29%. On the 9-day MACD Oscillator, the stock is at -3.5100, and the 14-day reading is at -5.3900.
Analyst Ratings
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) was downgraded by The Benchmark Company to a a Hold rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Faraday Future Intelligent Electric Inc. (FFIE) an Hold rating. FFIE is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is FFIE’s price target for the next 12 months?
The current consensus forecast for the stock is between $800.00 and $800.00, with a median target price of $800.00. In analyzing these forecasts, the average price target given by analysts for Faraday Future Intelligent Electric Inc. (FFIE) is $800.00.
