Faraday Future Intelligent Electric (NASDAQ:FFIE) Trading Down 6.5% – Time to Sell?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) was down 6.5% during mid-day trading on Friday . The company traded as low as $0.2260 and last traded at $0.2373. 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 Trading Down 6.5%

The stock 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 firm has a market cap of $17.31 million, a P/E ratio of -0.01 and a beta of 4.80.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several institutional investors have recently modified their holdings of FFIE. Bank of America Corp DE lifted its position in Faraday Future Intelligent Electric by 4,848.6% in the 2nd quarter. Bank of America Corp DE now owns 28,603 shares of the company’s stock worth $41,000 after buying an additional 28,025 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Faraday Future Intelligent Electric during the second quarter valued at approximately $45,000. JPMorgan Chase & Co. raised its stake in shares of Faraday Future Intelligent Electric by 4,206,100.0% during the second quarter. JPMorgan Chase & Co. now owns 42,062 shares of the company’s stock worth $61,000 after acquiring an additional 42,061 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Faraday Future Intelligent Electric during the second quarter worth approximately $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Faraday Future Intelligent Electric in the 2nd quarter worth approximately $71,000. 71.74% of the stock is currently owned by institutional investors.

Faraday Future Intelligent Electric Company Profile

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).