Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Down 7.6% – What’s Next?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares dropped 7.6% during mid-day trading on Tuesday . The stock traded as low as $2.61 and last traded at $2.69. Approximately 19,722,584 shares were traded during mid-day trading, an increase of 62% from the average daily volume of 12,161,802 shares. The stock had previously closed at $2.91.

Faraday Future Intelligent Electric Price Performance

The firm has a 50 day moving average price of $1.69 and a 200-day moving average price of $1.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.32 and a quick ratio of 0.21.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC purchased a new stake in Faraday Future Intelligent Electric during the second quarter worth approximately $25,000. Two Sigma Investments LP purchased a new stake in Faraday Future Intelligent Electric during the fourth quarter worth approximately $34,000. Wealthspire Advisors LLC lifted its stake in Faraday Future Intelligent Electric by 77.9% during the first quarter. Wealthspire Advisors LLC now owns 34,250 shares of the company’s stock worth $50,000 after purchasing an additional 15,000 shares during the last quarter. XTX Topco Ltd purchased a new stake in Faraday Future Intelligent Electric during the first quarter worth approximately $71,000. Finally, Diametric Capital LP purchased a new stake in Faraday Future Intelligent Electric during the fourth quarter worth approximately $78,000. Hedge funds and other institutional investors 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.