Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Down 3.6% – Here’s Why

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares traded down 3.6% during mid-day trading on Friday . The company traded as low as $1.57 and last traded at $1.60. 10,557,212 shares were traded during trading, a decline of 33% from the average session volume of 15,851,936 shares. The stock had previously closed at $1.66.

Faraday Future Intelligent Electric Stock Down 3.6 %

The company has a current ratio of 0.32, a quick ratio of 0.21 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $1.63 and a 200-day moving average of $2.69.

Institutional Trading of Faraday Future Intelligent Electric

A number of institutional investors have recently bought and sold shares of FFIE. Two Sigma Investments LP acquired a new stake in Faraday Future Intelligent Electric during the fourth quarter valued at $34,000. Diametric Capital LP acquired a new stake in Faraday Future Intelligent Electric during the fourth quarter valued at $78,000. Boothbay Fund Management LLC acquired a new stake in shares of Faraday Future Intelligent Electric in the fourth quarter worth about $146,000. Millennium Management LLC acquired a new stake in shares of Faraday Future Intelligent Electric in the fourth quarter worth about $162,000. Finally, Victory Capital Management Inc. lifted its position in shares of Faraday Future Intelligent Electric by 10.6% in the third quarter. Victory Capital Management Inc. now owns 62,638 shares of the company’s stock worth $180,000 after buying an additional 5,983 shares during the last quarter. Institutional investors and hedge funds own 71.74% of the company’s stock.

Faraday Future Intelligent Electric Company Profile

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.