Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Down 3.6% – Here’s What Happened

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)’s share price fell 3.6% on Monday . The stock traded as low as $1.06 and last traded at $1.07. 4,649,490 shares traded hands during trading, a decline of 62% from the average session volume of 12,161,802 shares. The stock had previously closed at $1.11.

Faraday Future Intelligent Electric Price Performance

The company has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.68. 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 firm has a market capitalization of $78.05 million, a PE ratio of -0.03 and a beta of 4.80.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC purchased a new stake in Faraday Future Intelligent Electric during the 2nd quarter worth $25,000. ProShare Advisors LLC acquired a new position in shares of Faraday Future Intelligent Electric during the second quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Faraday Future Intelligent Electric in the second quarter worth about $29,000. Bank of America Corp DE grew its stake in shares of Faraday Future Intelligent Electric by 4,848.6% in the second quarter. Bank of America Corp DE now owns 28,603 shares of the company’s stock valued at $41,000 after buying an additional 28,025 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 71.74% of the company’s stock.

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.