Faraday Future Intelligent Electric (NASDAQ:FFAI) Shares Up 0.9% – Still a Buy?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI)’s share price was up 0.9% during trading on Monday . The stock traded as high as $1.1399 and last traded at $1.10. Approximately 4,467,244 shares changed hands during trading, a decline of 27% from the average daily volume of 6,087,740 shares. The stock had previously closed at $1.09.

Wall Street Analysts Forecast Growth

FFAI has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a research report on Monday, December 8th. Litchfield Hills Research started coverage on shares of Faraday Future Intelligent Electric in a research note on Thursday, November 20th. They issued a “buy” rating and a $5.00 target price on the stock. Finally, Zacks Research raised shares of Faraday Future Intelligent Electric to a “hold” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Faraday Future Intelligent Electric Stock Up 0.9%

The company has a market cap of $186.24 million, a P/E ratio of -0.60 and a beta of 5.06. The stock has a 50-day moving average of $1.12 and a two-hundred day moving average of $1.64. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.42 and a current ratio of 0.43.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

A number of institutional investors have recently made changes to their positions in FFAI. Vanguard Personalized Indexing Management LLC bought a new stake in Faraday Future Intelligent Electric in the third quarter worth $26,000. Bank of America Corp DE purchased a new position in shares of Faraday Future Intelligent Electric in the third quarter worth about $35,000. JPMorgan Chase & Co. purchased a new position in shares of Faraday Future Intelligent Electric in the third quarter worth about $48,000. Verition Fund Management LLC bought a new stake in shares of Faraday Future Intelligent Electric in the 3rd quarter valued at about $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Faraday Future Intelligent Electric in the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 71.74% of the company’s stock.

Faraday Future Intelligent Electric Company Profile

Faraday Future Intelligent Electric (NASDAQ:FFAI) is an American electric vehicle (EV) manufacturer focused on the development and production of high-performance intelligent electric vehicles. Leveraging a proprietary modular platform, the company aims to deliver a seamless and connected driving experience by integrating advanced hardware with its in-house software architecture. Faraday Future’s vehicles are designed to offer luxury appointments, customizable digital displays, and autonomous driving capabilities, positioning the company in the premium segment of the EV market.

Since its founding in 2014, Faraday Future has unveiled its flagship FF 91 model, showcasing rapid acceleration, long-range battery performance, and over-the-air software updates.