Faraday Future Intelligent Electric (NASDAQ:FFIE) Trading Down 5.2% – Here’s What Happened

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $2.00 and last traded at $2.01. 1,951,312 shares were traded during trading, a decline of 61% from the average session volume of 5,033,966 shares. The stock had previously closed at $2.12.

Faraday Future Intelligent Electric Price Performance

The stock has a fifty day simple moving average of $3.72 and a 200-day simple moving average of $11.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.15 and a current ratio of 0.26.

Faraday Future Intelligent Electric (NASDAQ:FFIE) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($5.20) earnings per share (EPS) for the quarter. The company had revenue of $0.29 million for the quarter. Faraday Future Intelligent Electric had a negative net margin of 29,540.78% and a negative return on equity of 117.46%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wealthspire Advisors LLC bought a new position in shares of Faraday Future Intelligent Electric in the second quarter valued at about $25,000. Victory Capital Management Inc. bought a new position in shares of Faraday Future Intelligent Electric in the second quarter valued at about $29,000. Marathon Trading Investment Management LLC bought a new position in shares of Faraday Future Intelligent Electric in the second quarter valued at about $102,000. Busey Bank acquired a new stake in Faraday Future Intelligent Electric in the second quarter worth about $252,000. Finally, SG Americas Securities LLC acquired a new stake in Faraday Future Intelligent Electric in the second quarter worth about $420,000. 71.74% of the stock is owned by institutional investors.

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.