The Benchmark Company slashes price target on Faraday Future Intelligent Electric Inc. [FFIE] – find out why.

Faraday Future Intelligent Electric Inc. [NASDAQ: FFIE] traded at a low on 03/10/23, posting a -11.04 loss after which it closed the day’ session at $0.47. The company report on March 9, 2023 that Faraday Future Plans to Host a Special Meeting of Stockholders on March 30th, 2023, Announces Plans for Additional $50 Million Offering to Existing Shareholders.

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Affirmative vote required on March 30, 2023 special meeting of stockholders in order for the Company to receive remaining funds as contemplated in the $135 million fundraising announced on February 5, 2023; initial funding amounts have been received by the Company as planned.

Company has already received non-binding indications of interest for nearly full amount of additional $50 million fundraising to support scaling FF 91 Futurist production, and the Company is providing its stockholders the opportunity to invest.

The results of the trading session contributed to over 45961368 shares changing hands. Over the past one week, the price volatility of Faraday Future Intelligent Electric Inc. stands at 11.78% while the volatility over the past one month is 11.79%.

The market cap for FFIE stock reached $363.42 million, with 688.28 million shares outstanding and 445.44 million shares in the current float. Compared to the average trading volume of 54.44M shares, FFIE reached a trading volume of 45961368 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Faraday Future Intelligent Electric Inc. [FFIE]?

The Benchmark Company have made an estimate for Faraday Future Intelligent Electric Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 16, 2022. The new note on the price target was released on November 16, 2021, representing the official price target for Faraday Future Intelligent Electric Inc. stock. Previously, the target price had yet another raise to $17, while Wedbush analysts kept a Outperform rating on FFIE stock.

The Average True Range (ATR) for Faraday Future Intelligent Electric Inc. is set at 0.08 The Price to Book ratio for the last quarter was 0.57, with the Price to Cash per share for the same quarter was set at 0.04.

How has FFIE stock performed recently?

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 -17.56. With this latest performance, FFIE shares dropped by -34.48% in over the last four-week period, additionally sinking by -48.51% over the last 6 months – not to mention a drop of -91.64% 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 38.16, with the RSI for the last a single of trading hit 32.60, and the three-weeks RSI is set at 42.14 for Faraday Future Intelligent Electric Inc. [FFIE]. The present Moving Average for the last 50 days of trading for this stock 0.6035, while it was recorded at 0.5322 for the last single week of trading, and 1.4368 for the last 200 days.

Faraday Future Intelligent Electric Inc. [FFIE]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -129.85, with Return on Assets sitting at -90.77.

Faraday Future Intelligent Electric Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Insider trade positions for Faraday Future Intelligent Electric Inc. [FFIE]

There are presently around $23 million, or 12.50% of FFIE stock, in the hands of institutional investors. The top three institutional holders of FFIE stocks are: BLACKROCK INC. with ownership of 14,487,985, which is approximately 77.502% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 11,127,710 shares of the stock with an approximate value of $5.23 million in FFIE stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.84 million in FFIE stock with ownership of nearly 82.888% of the company’s market capitalization.

Positions in Faraday Future Intelligent Electric Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 38 institutional holders increased their position in Faraday Future Intelligent Electric Inc. [NASDAQ:FFIE] by around 18,898,208 shares. Additionally, 53 investors decreased positions by around 23,255,644 shares, while 17 investors held positions by with 7,365,469 shares. The mentioned changes placed institutional holdings at 49,519,321 shares, according to the latest SEC report filing. FFIE stock had 14 new institutional investments in for a total of 2,405,290 shares, while 31 institutional investors sold positions of 16,549,786 shares during the same period.


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