Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Down 3.4%

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)’s stock price dropped 3.4% on Tuesday . The stock traded as low as $0.49 and last traded at $0.50. Approximately 14,090,716 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 104,552,375 shares. The stock had previously closed at $0.51.

Faraday Future Intelligent Electric Trading Down 7.6 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.22 and a current ratio of 0.35. The business’s 50-day moving average is $0.44 and its two-hundred day moving average is $0.42.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Faraday Future Intelligent Electric stock. MCF Advisors LLC grew its stake in Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) by 13,329.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,750 shares of the company’s stock after purchasing an additional 499,999 shares during the period. MCF Advisors LLC owned approximately 0.40% of Faraday Future Intelligent Electric worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 71.74% of the stock is 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.