Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Down 8%

Shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) dropped 8% on Thursday . The company traded as low as $0.32 and last traded at $0.32. Approximately 18,840,039 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 105,478,539 shares. The stock had previously closed at $0.35.

Faraday Future Intelligent Electric Price Performance

The company has a market capitalization of $134.18 million, a P/E 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. The stock has a 50 day moving average price of $0.48 and a 200 day moving average price of $0.34.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FFIE. SG Americas Securities LLC bought a new position in Faraday Future Intelligent Electric during the 2nd quarter worth $420,000. MCF Advisors LLC raised its position in shares of Faraday Future Intelligent Electric by 13,329.8% in the 4th quarter. MCF Advisors LLC now owns 503,750 shares of the company’s stock worth $116,000 after acquiring an additional 499,999 shares in the last quarter. Finally, Busey Bank bought a new position in shares of Faraday Future Intelligent Electric in the 2nd quarter worth about $252,000. 71.74% of the stock is currently owned by 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.