Faraday Future Intelligent Electric (NASDAQ:FFIE) Trading Down 13.1%

Shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) dropped 13.1% during mid-day trading on Thursday . The stock traded as low as $0.40 and last traded at $0.41. Approximately 32,782,094 shares changed hands during trading, a decline of 69% from the average daily volume of 104,188,328 shares. The stock had previously closed at $0.47.

Faraday Future Intelligent Electric Stock Down 2.6 %

The business’s 50 day moving average is $0.46 and its 200 day moving average is $0.42. The company has a quick ratio of 0.22, a current ratio of 0.35 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

A hedge fund recently raised its stake in Faraday Future Intelligent Electric stock. MCF Advisors LLC increased its position in shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) by 13,329.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 503,750 shares of the company’s stock after acquiring an additional 499,999 shares during the quarter. MCF Advisors LLC owned about 0.40% of Faraday Future Intelligent Electric worth $116,000 as of its most recent SEC filing. 71.74% of the stock is owned by institutional investors and hedge funds.

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. The company was incorporated in 2014 and is headquartered in Los Angeles, California.