Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Down 7.5%

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)’s share price fell 7.5% on Wednesday . The stock traded as low as $0.35 and last traded at $0.36. 16,503,596 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 107,850,656 shares. The stock had previously closed at $0.39.

Faraday Future Intelligent Electric Stock Down 7.8 %

The firm’s 50 day simple moving average is $0.62 and its two-hundred day simple moving average is $0.35. The firm has a market cap of $157.06 million, a price-to-earnings ratio of 0.00 and a beta of 5.73. The company has a current ratio of 0.35, a quick ratio of 0.22 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

Institutional investors have recently made changes to their positions in the stock. Busey Bank bought a new position in Faraday Future Intelligent Electric during the 2nd quarter worth $252,000. MCF Advisors LLC grew its holdings in shares of Faraday Future Intelligent Electric by 13,329.8% during the 4th quarter. MCF Advisors LLC now owns 503,750 shares of the company’s stock worth $116,000 after purchasing an additional 499,999 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter worth $420,000. 71.74% of the stock is currently owned by institutional investors.

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.