Faraday Future Intelligent Electric Inc (NASDAQ: FFIE) Stock Forecast For 2023: $800.00 Per Share On The Upside

In the last trading session, 16.4 million Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) shares changed hands as the company’s beta touched 2.08. With the company’s per share price at $0.57 changed hands at $0.05 or 8.75% during last session, the market valuation stood at $10.56M. FFIE’s last price was a discount, traded about -18426.32% off its 52-week high of $105.60. The share price had its 52-week low at $0.52, which suggests the last value was 8.77% up since then. When we look at Faraday Future Intelligent Electric Inc’s average trading volume, we note the 10-day average is 7.62 million shares, with the 3-month average coming to 5.83 million.

Analysts gave the Faraday Future Intelligent Electric Inc (FFIE) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended FFIE as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Faraday Future Intelligent Electric Inc’s EPS for the current quarter is expected to be -$3.36.

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Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) trade information

Instantly FFIE was in green as seen at the end of in last trading. With action -28.13%, the performance over the past five days has been red. The jump to weekly highs of 0.8999 on Friday, 11/17/23 added 8.75% to the stock’s daily price. The company’s shares are showing year-to-date downside of -97.56%, with the 5-day performance at -28.13% in the red. However, in the 30-day time frame, Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) is -51.88% down. Looking at the short shares, we see there were 9.91 million shares sold at short interest cover period of 1.66 days.

The consensus price target for the stock as assigned by Wall Street analysts is $800.00, meaning bulls need an upside of 99.93% from its current market value. According to analyst projections, FFIE’s forecast low is $800.00 with $800.00 as the target high. To hit the forecast high, the stock’s price needs a -140250.88% plunge from its current level, while the stock would need to soar -140250.88% for it to hit the projected low.

Faraday Future Intelligent Electric Inc (FFIE) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Faraday Future Intelligent Electric Inc will rise 86.90%, while the growth in revenue is estimated to hit -586.20% for the next quarter.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $4.5 million. 1 analysts are of the opinion that Faraday Future Intelligent Electric Inc’s revenue for the quarter ending Mar 2024 will be $6.25 million.

The 2023 estimates are for Faraday Future Intelligent Electric Inc earnings to increase by 86.67%.

FFIE Dividends

Faraday Future Intelligent Electric Inc is expected to release its next quarterly earnings report on November 14.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 0.01% or 0.2 million shares worth $3.18 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 0.39 million shares estimated at $6.3 million under it, the former controlled 0.03% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.01% of the shares, roughly 0.17 million shares worth around $2.66 million.

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