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

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) was down 3.6% during mid-day trading on Friday . The stock traded as low as $1.57 and last traded at $1.60. Approximately 10,557,212 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 15,851,936 shares. The stock had previously closed at $1.66.

Faraday Future Intelligent Electric Stock Performance

The firm has a 50-day simple moving average of $1.63 and a 200 day simple moving average of $2.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.32 and a quick ratio of 0.21.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP acquired a new stake in Faraday Future Intelligent Electric in the fourth quarter valued at approximately $34,000. Diametric Capital LP acquired a new stake in Faraday Future Intelligent Electric during the 4th quarter valued at $78,000. Boothbay Fund Management LLC acquired a new stake in Faraday Future Intelligent Electric during the 4th quarter valued at $146,000. Millennium Management LLC purchased a new stake in Faraday Future Intelligent Electric during the 4th quarter worth $162,000. Finally, Victory Capital Management Inc. boosted its position in Faraday Future Intelligent Electric by 10.6% in the 3rd quarter. Victory Capital Management Inc. now owns 62,638 shares of the company’s stock valued at $180,000 after buying an additional 5,983 shares during the last quarter. 71.74% of the stock is owned by institutional investors and hedge funds.

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.