The Vanguard Group, Inc. recently announced the acquisition of new stake in Faraday Future Intelligent Electric Inc (NASDAQ:FFIE). The institutional investor has increased its shareholding in the Consumer Cyclical company by 11.75% to 0.68 million shares with purchase of 71364.0 shares. This fresh investment now brings its stake to 1.20% valued currently at $0.26 million. In addition, Morgan Stanley & Co. LLC raised its holdings by 0.32 million to 0.34 million shares. And BlackRock Fund Advisors has lifted its position by 62.51% or 0.12 million shares – to 0.32 million shares.
With over 17.68 million Faraday Future Intelligent Electric Inc (FFIE) shares trading Friday and a closing price of $0.16 on the day, the dollar volume was approximately $2.83 million. The shares have shown a negative half year performance of -98.98% and its price on 01/05/24 lost nearly -8.09%.
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Insiders at the company have transacted a total of 5 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 820,744 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Faraday Future Intelligent Electric Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Schwab US Small Cap ETF. Vanguard Total Stock Market ETF owns 0.39 million shares of the company’s stock, all valued at over $0.15 million. Schwab US Small Cap ETF now owns shares totaling to 0.14% of the shares outstanding.
However, the script later moved the day high at 0.1759, down -8.09%. The company’s stock has a 5-day price change of -38.60% and -86.04% over the past three months. FFIE shares are trading -31.10% year to date (YTD), with the 12-month market performance down to -99.33% lower. It has a 12-month low price of $0.17 and touched a high of $105.60 over the same period. FFIE has an average intraday trading volume of 12.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -40.60%, -71.78%, and -98.72% respectively.
Institutional ownership of Faraday Future Intelligent Electric Inc (NASDAQ: FFIE) shares accounts for 14.62% of the company’s 7.04M shares outstanding. Mutual fund holders own 1.67%, while other institutional holders and individual stakeholders account for 3.13% and 0.01% respectively.
It has a market capitalization of $2.96M and a beta (3y monthly) value of 1.77. The earnings-per-share (ttm) stands at -$59.89. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.03% over the week and 21.19% over the month.
Analysts forecast that Faraday Future Intelligent Electric Inc (FFIE) will achieve an EPS of -$1.17 for the current quarter, -$1.29 for the next quarter and -$5.13 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.17 while analysts give the company a high EPS estimate of -$1.17. Comparatively, EPS for the current quarter was -$25.6 a year ago. Earnings per share for the fiscal year are expected to increase by 86.67%, and 67.92% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Faraday Future Intelligent Electric Inc (FFIE) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
