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

Shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) fell 3.6% on Monday . The company traded as low as $1.06 and last traded at $1.07. 4,649,490 shares traded hands during trading, a decline of 62% from the average session volume of 12,161,802 shares. The stock had previously closed at $1.11.

Faraday Future Intelligent Electric Trading Down 3.6%

The firm has a market cap of $78.05 million, a P/E ratio of -0.03 and a beta of 4.80. The business’s 50 day moving average is $1.26 and its 200-day moving average is $1.68. The company has a quick ratio of 0.21, a current ratio of 0.32 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several large investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC bought a new stake in Faraday Future Intelligent Electric during the second quarter valued at $25,000. ProShare Advisors LLC bought a new position in shares of Faraday Future Intelligent Electric in the 2nd quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Faraday Future Intelligent Electric in the 2nd quarter valued at about $29,000. Bank of America Corp DE grew its position in shares of Faraday Future Intelligent Electric by 4,848.6% during the 2nd quarter. Bank of America Corp DE now owns 28,603 shares of the company’s stock valued at $41,000 after buying an additional 28,025 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Faraday Future Intelligent Electric during the second quarter worth about $45,000. 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.