Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Down 3.6% – What’s Next?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) dropped 3.6% during trading on Friday . The company traded as low as $1.57 and last traded at $1.60. Approximately 10,557,212 shares changed hands during trading, a decline of 33% from the average daily volume of 15,851,936 shares. The stock had previously closed at $1.66.

Faraday Future Intelligent Electric Stock Performance

The company’s fifty day moving average price is $1.63 and its two-hundred day moving average price is $2.64. The company has a current ratio of 0.32, a quick ratio of 0.21 and a debt-to-equity ratio of 0.20.

Institutional Trading of Faraday Future Intelligent Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Faraday Future Intelligent Electric by 10.6% in the third quarter. Victory Capital Management Inc. now owns 62,638 shares of the company’s stock valued at $180,000 after acquiring an additional 5,983 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Faraday Future Intelligent Electric in the 4th quarter valued at about $34,000. Diametric Capital LP purchased a new stake in shares of Faraday Future Intelligent Electric during the 4th quarter worth about $78,000. Boothbay Fund Management LLC acquired a new stake in Faraday Future Intelligent Electric during the 4th quarter worth approximately $146,000. Finally, Millennium Management LLC purchased a new position in Faraday Future Intelligent Electric in the fourth quarter valued at approximately $162,000. 71.74% of the stock is currently owned by institutional investors and hedge funds.

About Faraday Future Intelligent Electric

Faraday Future Intelligent Electric Inc 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.