Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Down 5.1% – Should You Sell?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)’s share price traded down 5.1% during mid-day trading on Wednesday . The company traded as low as $1.25 and last traded at $1.31. 28,267,135 shares changed hands during trading, an increase of 198% from the average session volume of 9,487,374 shares. The stock had previously closed at $1.38.

Faraday Future Intelligent Electric Price 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 has a fifty day moving average price of $1.40 and a 200 day moving average price of $1.86.

Institutional Trading of Faraday Future Intelligent Electric

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in shares of Faraday Future Intelligent Electric by 10.6% during the third quarter. Victory Capital Management Inc. now owns 62,638 shares of the company’s stock valued at $180,000 after buying an additional 5,983 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Faraday Future Intelligent Electric during the 4th quarter worth about $34,000. Diametric Capital LP purchased a new position in Faraday Future Intelligent Electric during the 4th quarter valued at about $78,000. Boothbay Fund Management LLC acquired a new position in shares of Faraday Future Intelligent Electric in the 4th quarter valued at about $146,000. Finally, Millennium Management LLC purchased a new stake in shares of Faraday Future Intelligent Electric in the fourth quarter worth approximately $162,000. Hedge funds and other 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.