Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Down 5.2% - Should You Sell?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE - Get Free Report)'s share price traded down 5.2% during mid-day trading on Monday . The stock traded as low as $1.78 and last traded at $1.81. 15,886,922 shares traded hands during mid-day trading, an increase of 31% from the average session volume of 12,161,802 shares. The stock had previously closed at $1.91.

Faraday Future Intelligent Electric Trading Down 5.2%

The firm has a fifty day moving average of $2.26 and a 200-day moving average of $1.60. The company has a quick ratio of 0.21, a current ratio of 0.32 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new position in Faraday Future Intelligent Electric in the fourth quarter valued at about $34,000. Wealthspire Advisors LLC lifted its stake in Faraday Future Intelligent Electric by 77.9% in the first quarter. Wealthspire Advisors LLC now owns 34,250 shares of the company's stock valued at $50,000 after buying an additional 15,000 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Faraday Future Intelligent Electric in the second quarter valued at about $25,000. ProShare Advisors LLC acquired a new position in Faraday Future Intelligent Electric in the second quarter valued at about $26,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in Faraday Future Intelligent Electric in the second quarter valued at about $29,000. 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.

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