Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Down 27.9%

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)’s stock price was down 27.9% during mid-day trading on Tuesday . The stock traded as low as $0.22 and last traded at $0.24. Approximately 77,386,141 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 103,882,250 shares. The stock had previously closed at $0.33.

Faraday Future Intelligent Electric Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.35 and a quick ratio of 0.22. The company’s 50-day simple moving average is $0.48 and its 200-day simple moving average is $0.40.

Institutional Trading of Faraday Future Intelligent Electric

A hedge fund recently raised its stake in Faraday Future Intelligent Electric stock. MCF Advisors LLC lifted its stake in shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) by 13,329.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 503,750 shares of the company’s stock after buying an additional 499,999 shares during the quarter. MCF Advisors LLC owned approximately 0.40% of Faraday Future Intelligent Electric worth $116,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 71.74% of the company’s stock.

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.