Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Down 2.2% - What's Next?

Key Points

• Faraday Future Intelligent Electric Inc. shares fell by 2.2% during mid-day trading, with the latest trading price recorded at $1.35.
• Institutional investors own 71.74% of the company's stock, with several hedge funds significantly increasing their stakes during the second quarter.
• The company has a low current ratio of 0.32 and a debt-to-equity ratio of 0.20, indicating potential financial challenges.

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE - ) shares traded down 2.2% during mid-day trading on Tuesday . The company traded as low as $1.32 and last traded at $1.35. 12,238,676 shares changed hands during trading, an increase of 1% from the average session volume of 12,161,802 shares. The stock had previously closed at $1.38.

Faraday Future Intelligent Electric Stock Performance

The company has a current ratio of 0.32, a quick ratio of 0.21 and a debt-to-equity ratio of 0.20. The firm's fifty day moving average is $2.18 and its two-hundred day moving average is $1.63.

Institutional Trading of Faraday Future Intelligent Electric

Several hedge funds have recently made changes to their positions in FFIE. Headlands Technologies LLC bought a new position in Faraday Future Intelligent Electric in the 2nd quarter worth about $124,000. Bank of America Corp DE lifted its stake in Faraday Future Intelligent Electric by 4,848.6% during the second quarter. Bank of America Corp DE now owns 28,603 shares of the company's stock worth $41,000 after purchasing an additional 28,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Faraday Future Intelligent Electric during the second quarter worth about $71,000. The Manufacturers Life Insurance Company bought a new stake in Faraday Future Intelligent Electric during the second quarter worth about $45,000. Finally, Invesco Ltd. bought a new stake in Faraday Future Intelligent Electric during the second quarter worth about $65,000. 71.74% of the stock is currently owned by institutional investors.

About Faraday Future Intelligent Electric

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.