Faraday Future Intelligent Electric (NASDAQ:FFAI) Shares Down 7.3% – Here’s Why

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI)’s stock price traded down 7.3% during mid-day trading on Friday . The stock traded as low as $1.37 and last traded at $1.40. 11,205,710 shares traded hands during trading, an increase of 26% from the average session volume of 8,926,741 shares. The stock had previously closed at $1.51.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Faraday Future Intelligent Electric from a “hold” rating to a “sell” rating in a research report on Friday, May 30th.

Faraday Future Intelligent Electric Stock Performance

The business’s 50-day moving average price is $1.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.26.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last announced its earnings results on Thursday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $0.32 million for the quarter. Faraday Future Intelligent Electric had a negative net margin of 37,269.16% and a negative return on equity of 155.53%.

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.