For Faraday Future Intelligent Electric Inc. [FFIE], Analyst sees a rise to $10. What next?

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Faraday Future Intelligent Electric Inc. [NASDAQ: FFIE] price plunged by -8.37 percent to reach at -$0.6. The company report on November 23, 2021 that Faraday Future Receives Anticipated Letter from Nasdaq Regarding Form 10-Q Filing.

Faraday Future Intelligent Electric Inc. (“Faraday Future” or the “Company”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, announced that it received a letter (the “Nasdaq Letter”) from The Nasdaq Stock Market (“Nasdaq”) dated November 17, 2021, indicating that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1). The Nasdaq Letter, which the Company expected, was issued in accordance with standard Nasdaq procedures due to the delayed filing of the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021 (the “Q3 Form 10-Q”). The Nasdaq Letter advised the Company that it is permitted 60 calendar days to submit a plan to regain compliance with Nasdaq Listing Rule 5250(c)(1), and that the Nasdaq staff can grant the Company an exception, up to 180 calendar days from the due date of the Q3 Form 10-Q, to regain compliance. The Nasdaq Letter further advised the Company that it will be placed on a list of non-compliant Nasdaq companies within five business days of November 17, 2021.


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The Company previously filed a Form 12b-25 with the Securities and Exchange Commission on November 15, 2021, disclosing that the Company’s board of directors formed a special committee of independent directors (the “Special Committee”) to investigate allegations of inaccurate disclosures, including claims contained in a report issued by an investor with a history of seeking to drive down public companies’ stock prices for its own benefit. The Special Committee has engaged outside counsel to conduct an independent review of such allegations. The review is ongoing, and the Special Committee continues to work diligently with outside counsel and advisors to complete the review as soon as possible. The Company cannot predict the duration of the review, eventual scope, its outcome, or its impact on the Company’s financial results.

A sum of 3935546 shares traded at recent session while its average daily volume was at 2.14M shares. Faraday Future Intelligent Electric Inc. shares reached a high of $7.2343 and dropped to a low of $6.40 until finishing in the latest session at $6.57.

The one-year FFIE stock forecast points to a potential upside of 60.59. The average equity rating for FFIE stock is currently 1.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Faraday Future Intelligent Electric Inc. [FFIE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FFIE shares is $16.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FFIE stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Faraday Future Intelligent Electric Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 16, 2021. While these analysts kept the previous recommendation, Wedbush raised their target price to Outperform. The new note on the price target was released on August 17, 2021, representing the official price target for Faraday Future Intelligent Electric Inc. stock.

The Average True Range (ATR) for Faraday Future Intelligent Electric Inc. is set at 0.63 The Price to Book ratio for the last quarter was 0.22, with the Price to Cash per share for the same quarter was set at 0.00.

FFIE Stock Performance Analysis:

Faraday Future Intelligent Electric Inc. [FFIE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.59. With this latest performance, FFIE shares dropped by -27.16% in over the last four-week period, additionally sinking by -45.25% over the last 6 months – not to mention a drop of -32.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FFIE stock in for the last two-week period is set at 28.77, with the RSI for the last a single of trading hit 21.39, and the three-weeks RSI is set at 33.58 for Faraday Future Intelligent Electric Inc. [FFIE]. The present Moving Average for the last 50 days of trading for this stock 8.91, while it was recorded at 7.64 for the last single week of trading, and 11.67 for the last 200 days.

Insight into Faraday Future Intelligent Electric Inc. Fundamentals:

Faraday Future Intelligent Electric Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

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Faraday Future Intelligent Electric Inc. [FFIE] Insider Position Details

There are presently around $224 million, or 11.70% of FFIE stock, in the hands of institutional investors. The top three institutional holders of FFIE stocks are: VANGUARD GROUP INC with ownership of 3,303,392, which is approximately New of the company’s market cap and around 0.20% of the total institutional ownership; BFAM PARTNERS (CAYMAN) LTD, holding 3,000,000 shares of the stock with an approximate value of $19.71 million in FFIE stocks shares; and PARK WEST ASSET MANAGEMENT LLC, currently with $19.71 million in FFIE stock with ownership of nearly New of the company’s market capitalization.

Positions in Faraday Future Intelligent Electric Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 47 institutional holders increased their position in Faraday Future Intelligent Electric Inc. [NASDAQ:FFIE] by around 33,228,773 shares. Additionally, 15 investors decreased positions by around 1,078,544 shares, while 4 investors held positions by with 180,089 shares. The mentioned changes placed institutional holdings at 34,127,228 shares, according to the latest SEC report filing. FFIE stock had 38 new institutional investments in for a total of 27,613,842 shares, while 11 institutional investors sold positions of 810,497 shares during the same period.

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