Faraday Future Intelligent Electric (NASDAQ:FFAI) Shares Down 7.3% – Here’s Why

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI)’s share price fell 7.3% on Friday . The stock traded as low as $1.37 and last traded at $1.40. 11,205,710 shares changed hands during trading, an increase of 26% from the average session volume of 8,926,741 shares. The stock had previously closed at $1.51.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Faraday Future Intelligent Electric from a “hold” rating to a “sell” rating in a research note on Friday, May 30th.

Faraday Future Intelligent Electric Stock Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.41 and a quick ratio of 0.26. The business’s 50 day moving average price is $1.22.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last issued its earnings results on Thursday, May 8th. The company reported ($0.14) EPS for the quarter. Faraday Future Intelligent Electric had a negative return on equity of 155.53% and a negative net margin of 37,269.16%. The company had revenue of $0.32 million during the quarter.

About Faraday Future Intelligent Electric

Faraday Future Intelligent Electric Inc engages in the design, development, manufacture, engineering, sale, and distribution of electric vehicles and related products in the United States and internationally. The company was founded in 2014 and is headquartered in Gardena, California.