Faraday Future Intelligent Electric (NASDAQ:FFIE) Trading Down 2.9% – Should You Sell?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares fell 2.9% during mid-day trading on Wednesday . The company traded as low as $1.01 and last traded at $1.02. 7,096,974 shares were traded during trading, a decline of 42% from the average session volume of 12,161,802 shares. The stock had previously closed at $1.05.

Faraday Future Intelligent Electric Stock Performance

The firm has a market cap of $74.40 million, a PE ratio of -0.03 and a beta of 4.80. The business has a 50 day simple moving average of $1.10 and a two-hundred day simple moving average of $1.59. The company has a quick ratio of 0.21, a current ratio of 0.32 and a debt-to-equity ratio of 0.20.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

Large investors have recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC boosted its holdings in shares of Faraday Future Intelligent Electric by 204.4% in the second quarter. Wealthspire Advisors LLC now owns 104,250 shares of the company’s stock valued at $151,000 after purchasing an additional 70,000 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in Faraday Future Intelligent Electric during the 2nd quarter worth $25,000. Bank of America Corp DE raised its position in Faraday Future Intelligent Electric by 4,848.6% during the 2nd quarter. Bank of America Corp DE now owns 28,603 shares of the company’s stock valued at $41,000 after purchasing an additional 28,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Faraday Future Intelligent Electric in the 2nd quarter worth $71,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter worth $45,000. 71.74% of the stock is owned by hedge funds and other institutional investors.

About Faraday Future Intelligent Electric

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).