Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) stock fell -8.41% on Monday to $4.68 against a previous-day closing price of $5.11. With 4.17 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.35 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $5.1900 whereas the lowest price it dropped to was $4.5900. The 52-week range on FFIE shows that it touched its highest point at $105.60 and its lowest point at $3.38 during that stretch. Beta for the stock currently stands at 2.12.
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 up-trending over the past week, with a rise of 31.65%, but this was down by -78.73% over a month. Three-month performance dropped to -86.99% while six-month performance fell -87.04%. The stock lost -94.48% in the past year, while it has lost -79.85% so far this year. A look at the trailing 12-month EPS for FFIE yields -69.46 with Next year EPS estimates of -14.40. For the next quarter, that number is -3.20. This implies an EPS growth rate of 4.00% for this year and 45.50% for next year.
Float and Shares Shorts:
At present, 18.60 million FFIE shares are outstanding with a float of 15.88 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.97 million, which was 21.11% higher than short shares on Jul 30, 2023. In addition to Mr. Xuefeng Chen as the firm’s Global CEO & Director, Ms. Yun Han serves as its Chief Accounting Officer.
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 Jun 29, 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 -$35.20.
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 $800.00 and a low target of $800.00, the average target price over the next 12 months is $800.00. Based on these targets, FFIE could surge 16994.02% to reach the target high and rise by 16994.02% to reach the target low. Reaching the average price target will result in a growth of 16994.02% 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 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 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.