Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Up 3.7% – What’s Next?

Shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shot up 3.7% during mid-day trading on Wednesday . The stock traded as high as $0.4338 and last traded at $0.4109. 13,772,214 shares were traded during trading, an increase of 13% from the average session volume of 12,161,802 shares. The stock had previously closed at $0.3963.

Faraday Future Intelligent Electric Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.32 and a quick ratio of 0.21. The company has a 50 day simple moving average of $0.34 and a 200-day simple moving average of $0.78. The stock has a market cap of $28.32 million, a P/E ratio of -0.01 and a beta of 4.80.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Faraday Future Intelligent Electric by 4,848.6% in the 2nd quarter. Bank of America Corp DE now owns 28,603 shares of the company’s stock valued at $41,000 after acquiring an additional 28,025 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Faraday Future Intelligent Electric in the 2nd quarter valued at about $45,000. JPMorgan Chase & Co. lifted its stake in shares of Faraday Future Intelligent Electric by 4,206,100.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 42,062 shares of the company’s stock valued at $61,000 after acquiring an additional 42,061 shares during the last quarter. Invesco Ltd. bought a new stake in shares of Faraday Future Intelligent Electric in the 2nd quarter valued at about $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Faraday Future Intelligent Electric in the 2nd quarter valued at about $71,000. Institutional investors own 71.74% of the company’s stock.

Faraday Future Intelligent Electric Company Profile

Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) is an American mobility technology company specializing in the design, development and manufacture of premium electric vehicles. Founded in 2014 and based in Los Angeles, California, Faraday Future focuses on next?generation automotive solutions that integrate high?performance powertrains with advanced connectivity and energy-management systems.

The company’s flagship vehicle, the FF 91, is a luxury all?electric SUV built on its proprietary Variable Platform Architecture (VPA).