Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Down 5.2% – Here’s Why

by · The Markets Daily

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE – Get Free Report) shares were down 5.2% during mid-day trading on Wednesday . The stock traded as low as $2.00 and last traded at $2.01. Approximately 1,951,312 shares changed hands during trading, a decline of 61% from the average daily volume of 5,033,966 shares. The stock had previously closed at $2.12.

Faraday Future Intelligent Electric Stock Down 5.2 %

The stock has a market cap of $884.28 million, a PE ratio of -0.02 and a beta of 5.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.15 and a current ratio of 0.26. The company’s 50-day moving average price is $3.88 and its 200 day moving average price is $11.86.

Faraday Future Intelligent Electric (NASDAQ:FFIE – Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($5.20) earnings per share (EPS) for the quarter. The firm had revenue of $0.29 million during the quarter. Faraday Future Intelligent Electric had a negative return on equity of 117.46% and a negative net margin of 29,540.78%.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FFIE. Victory Capital Management Inc. bought a new position in Faraday Future Intelligent Electric in the 2nd quarter worth approximately $29,000. Marathon Trading Investment Management LLC bought a new position in Faraday Future Intelligent Electric in the 2nd quarter worth approximately $102,000. Wealthspire Advisors LLC bought a new position in Faraday Future Intelligent Electric in the 2nd quarter worth approximately $25,000. SG Americas Securities LLC bought a new position in Faraday Future Intelligent Electric in the 2nd quarter worth approximately $420,000. Finally, Busey Bank bought a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter valued at approximately $252,000. 71.74% of the stock is owned by hedge funds and other institutional investors.

About Faraday Future Intelligent Electric

(Get Free Report)

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.

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