Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) stock fell -4.13% on Thursday to $0.21 against a previous-day closing price of $0.22. With 58.69 million shares changed hands, the volume of the stock remained lighter than its average volume of 63.34 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.2180 whereas the lowest price it dropped to was $0.1800. The 52-week range on FFIE shows that it touched its highest point at $7.85 and its lowest point at $0.15 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 -5.48%, but this was up by 0.93% over a month. Three-month performance dropped to -62.85% while six-month performance fell -37.79%. The stock lost -92.05% in the past year, while it has lost -28.76% so far this year. A look at the trailing 12-month EPS for FFIE yields -1.54 with Next year EPS estimates of -0.43. For the next quarter, that number is -0.10. This implies an EPS growth rate of 12.00% for this year and -4.90% for next year.
Float and Shares Shorts:
At present, 1.14 billion FFIE shares are outstanding with a float of 895.77 million shares on hand for trading. On Apr 27, 2023, short shares totaled 142.53 million, which was 18.83% higher than short shares on Mar 30, 2023. In addition to Mr. Xuefeng Chen as the firm’s Global CEO & Director, Ms. Yun Han serves as its Chief Accounting Officer & Interim CFO.
Institutional Ownership:
Through their ownership of 7.36% of FFIE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.17% of FFIE, in contrast to 8.01% held by mutual funds. Shares owned by individuals account for 10.09%. As the largest shareholder in FFIE with 4.68% of the stake, BlackRock Fund Advisors holds 32,428,568 shares worth 32,428,568. A second-largest stockholder of FFIE, The Vanguard Group, Inc., holds 24,370,969 shares, controlling over 3.52% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in FFIE, holding 10,604,347 shares or 1.53% stake. With a 2.14% stake in FFIE, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 14,841,507 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.53% of FFIE stock, is the second-largest Mutual Fund holder. It holds 10,580,929 shares valued at 1.8 million. Vanguard Extended Market Index Fu holds 0.97% of the stake in FFIE, owning 6,701,488 shares worth 1.14 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 Mar 30, 2023, FFIE reported revenue of $0.00 and operating income of -$137.47M. The EBITDA in the recently reported quarter was -$139.41M and diluted EPS was -$0.44.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FFIE since 0 analysts follow the stock currently. 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 4661.9% to reach the target high and rise by 4661.9% to reach the target low. Reaching the average price target will result in a growth of 4661.9% 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.
Summary of Insider Activity:
Insiders traded FFIE stock several times over the past three months with 5 Buys and 0 Sells. In these transactions, 820,744 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 2,480,694 while 0 shares were sold.
