This trade activity should not be overlooked: Faraday Future Intelligent Electric Inc. (FFIE)

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) stock jumped 11.16% on Friday to $2.39 against a previous-day closing price of $2.15. With 24.58 million shares changed hands, the volume of the stock remained heavier than its average volume of 10.86 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $2.5900 whereas the lowest price it dropped to was $2.2100. The 52-week range on FFIE shows that it touched its highest point at $13.75 and its lowest point at $1.65 during that stretch. It currently has a 1-year price target of $10.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FFIE was down-trending over the past week, with a drop of -48.49%, but this was up by 5.29% over a month. Three-month performance dropped to -22.90% while six-month performance fell -46.89%. The stock lost -79.13% in the past year, while it has lost -55.08% so far this year. A look at the trailing 12-month EPS for FFIE yields -1.92 with Next year EPS estimates of -2.08. For the next quarter, that number is -0.38. This implies an EPS growth rate of -276.80% for this year and -188.90% for next year.

Float and Shares Shorts:

At present, 322.21 million FFIE shares are outstanding with a float of 92.43 million shares on hand for trading. On Apr 28, 2022, short shares totaled 19.54 million, which was 6.02% higher than short shares on Mar 30, 2022. In addition to Dr. Carsten Breitfield as the firm’s Global CEO & Director, Mr. Chui Tin Mok serves as its Exec. VP & Global Head of User Ecosystem.

Institutional Ownership:

Through their ownership of 25.62% of FFIE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.66% of FFIE, in contrast to 16.00% held by mutual funds. Shares owned by individuals account for 0.62%. As the largest shareholder in FFIE with 4.87% of the stake, The Vanguard Group, Inc. holds 11,594,731 shares worth 11,594,731. A second-largest stockholder of FFIE, Anatole Investment Management Ltd, holds 6,000,000 shares, controlling over 2.52% of the firm’s shares. BFAM Partners is the third largest shareholder in FFIE, holding 3,000,000 shares or 1.26% stake. With a 1.68% stake in FFIE, the BNP Paribas Funds – Energy Transi is the largest stakeholder. A total of 4,000,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.18% of FFIE stock, is the second-largest Mutual Fund holder. It holds 2,819,033 shares valued at 7.33 million. Vanguard Extended Market Index Fu holds 0.97% of the stake in FFIE, owning 2,310,713 shares worth 6.01 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FFIE since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FFIE analysts setting a high price target of $10.00 and a low target of $10.00, the average target price over the next 12 months is $10.00. Based on these targets, FFIE could surge 318.41% to reach the target high and rise by 318.41% to reach the target low. Reaching the average price target will result in a growth of 318.41% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FFIE will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of -$1.46 being high and -$1.46 being low. For FFIE, this leads to a yearly average estimate of -$1.46. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Faraday Future Intelligent Electric Inc. reported -$0.48 EPS. Based on analyst estimates, the high estimate for the next quarter is -$0.38 and the low estimate is -$0.38. The average estimate for the next quarter is thus -$0.38.

Summary of Insider Activity:

Insiders traded FFIE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 10,000 while 0 shares were sold.

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