Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Down 4.3%

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)’s share price was down 4.3% during mid-day trading on Tuesday . The company traded as low as $0.39 and last traded at $0.40. Approximately 18,348,498 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 111,418,680 shares. The stock had previously closed at $0.42.

Faraday Future Intelligent Electric Stock Performance

The stock has a 50-day moving average of $0.56 and a 200-day moving average of $0.37. The firm has a market cap of $178.09 million, a price-to-earnings ratio of 0.00 and a beta of 5.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.22 and a current ratio of 0.35.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

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

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.