It is Poised to be a Bull Market for Faraday Future Intelligent Electric Inc. (FFIE)

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) stock fell -2.35% on Wednesday to $0.32 against a previous-day closing price of $0.33. With 29.81 million shares changed hands, the volume of the stock remained heavier than its average volume of 27.7 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.3650 whereas the lowest price it dropped to was $0.3227. The 52-week range on FFIE shows that it touched its highest point at $7.85 and its lowest point at $0.31 during that stretch.

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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 -31.08%, but this was down by -43.61% over a month. Three-month performance dropped to -81.34% while six-month performance fell -89.18%. The stock lost -95.06% in the past year, while it has lost -93.90% so far this year. A look at the trailing 12-month EPS for FFIE yields -2.20 with Next year EPS estimates of -1.30. For the next quarter, that number is -0.37. This implies an EPS growth rate of -276.80% for this year and 20.20% for next year.

Float and Shares Shorts:

At present, 322.72 million FFIE shares are outstanding with a float of 184.55 million shares on hand for trading. On Oct 30, 2022, short shares totaled 49.05 million, which was 12.13% higher than short shares on Sep 29, 2022. In addition to Dr. Carsten Breitfeld as the firm’s Global CEO & Director, Mr. Yueting Jia serves as its Founder, Partner, Chief Product & User Ecosystem Officer.

Institutional Ownership:

Through their ownership of 12.67% of FFIE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.70% of FFIE, in contrast to 4.24% held by mutual funds. Shares owned by individuals account for 17.52%. As the largest shareholder in FFIE with 1.92% of the stake, BlackRock Fund Advisors holds 7,538,935 shares worth 7,538,935. A second-largest stockholder of FFIE, The Vanguard Group, Inc., holds 6,761,651 shares, controlling over 1.72% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in FFIE, holding 4,304,959 shares or 1.10% stake. With a 0.97% stake in FFIE, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 3,800,949 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 0.74% of FFIE stock, is the second-largest Mutual Fund holder. It holds 2,915,726 shares valued at 1.57 million. Vanguard Extended Market Index Fu holds 0.47% of the stake in FFIE, owning 1,857,454 shares worth 1.0 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, FFIE reported revenue of $0.00 and operating income of -$137.47M. Over the past year, revenue came in at $0.00 while operating income stood at -$593.53M. It generated -$141.69M net income for the quarter, which came to -$683.00M over the last twelve months. The EBITDA in the recently reported quarter was -$139.41M and diluted EPS was -$0.44. EBITDA for the full year was -$611.97M.

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 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 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 3025.0% to reach the target high and rise by 3025.0% to reach the target low. Reaching the average price target will result in a growth of 3025.0% 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 05/12/2023. Analysts have provided yearly estimates in a range of -$1.63 being high and -$1.63 being low. For FFIE, this leads to a yearly average estimate of -$1.63. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Faraday Future Intelligent Electric Inc. surprised analysts by $0.06 when it reported -$0.31 EPS against a consensus estimate of -$0.37. The surprise factor in the prior quarter was -$0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.35 and the low estimate is -$0.35. The average estimate for the next quarter is thus -$0.35.

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 remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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