Shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE – Get Free Report) dropped 6.5% on Friday . The company traded as low as $0.2260 and last traded at $0.2373. Approximately 17,797,061 shares changed hands during trading, an increase of 46% from the average daily volume of 12,161,802 shares. The stock had previously closed at $0.2539.
Faraday Future Intelligent Electric Stock Up 1.1%
The firm has a 50 day moving average of $0.34 and a 200-day moving average of $0.60. 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 stock has a market capitalization of $17.51 million, a P/E ratio of -0.01 and a beta of 4.80.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in Faraday Future Intelligent Electric during the second quarter worth $45,000. Invesco Ltd. acquired a new position in shares of Faraday Future Intelligent Electric in the 2nd quarter valued at $65,000. New York State Common Retirement Fund acquired a new position in shares of Faraday Future Intelligent Electric in the 2nd quarter valued at $94,000. Headlands Technologies LLC bought a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter worth about $124,000. Finally, Rhumbline Advisers bought a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter worth about $192,000. 71.74% of the stock is currently owned by institutional investors and hedge funds.
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).
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