Faraday Future Intelligent Electric (NASDAQ:FFIE) Trading Down 7.8%

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) fell 7.8% during trading on Tuesday . The company traded as low as $6.81 and last traded at $6.99. 1,282,127 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 4,147,672 shares. The stock had previously closed at $7.58.

Faraday Future Intelligent Electric Stock Down 6.6 %

The firm has a market capitalization of $3.11 billion, a PE ratio of -0.05 and a beta of 5.73. The business’s fifty day moving average price is $13.37 and its 200 day moving average price is $12.74. The company has a quick ratio of 0.15, a current ratio of 0.26 and a debt-to-equity ratio of 0.18.

Faraday Future Intelligent Electric (NASDAQ:FFIE) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($5.20) EPS for the quarter. Faraday Future Intelligent Electric had a negative net margin of 29,540.78% and a negative return on equity of 147.07%. The company had revenue of $0.29 million for the quarter.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wealthspire Advisors LLC purchased a new position in Faraday Future Intelligent Electric during the 2nd quarter worth $25,000. Victory Capital Management Inc. acquired a new position in shares of Faraday Future Intelligent Electric during the second quarter worth about $29,000. Marathon Trading Investment Management LLC acquired a new position in shares of Faraday Future Intelligent Electric during the second quarter worth about $102,000. Busey Bank purchased a new position in Faraday Future Intelligent Electric during the second quarter worth about $252,000. Finally, SG Americas Securities LLC acquired a new stake in Faraday Future Intelligent Electric in the second quarter valued at about $420,000. 71.74% of the stock is currently owned by hedge funds and other institutional investors.

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.