Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Gap Down to $5.14

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)’s share price gapped down prior to trading on Monday . The stock had previously closed at $5.14, but opened at $4.87. Faraday Future Intelligent Electric shares last traded at $3.97, with a volume of 1,189,902 shares changing hands.

Faraday Future Intelligent Electric Trading Down 24.8 %

The firm has a market cap of $1.32 billion, a PE ratio of -0.02 and a beta of 5.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.32 and a quick ratio of 0.21. The business has a 50-day moving average price of $14.48 and a two-hundred day moving average price of $12.88.

Faraday Future Intelligent Electric (NASDAQ:FFIE) last posted its earnings results on Wednesday, August 14th. The company reported ($5.20) earnings per share for the quarter. The business had revenue of $0.29 million for the quarter.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Faraday Future Intelligent Electric in the second quarter worth $420,000. Busey Bank purchased a new stake in Faraday Future Intelligent Electric during the 2nd quarter worth about $252,000. Marathon Trading Investment Management LLC purchased a new stake in Faraday Future Intelligent Electric during the 2nd quarter worth about $102,000. Victory Capital Management Inc. acquired a new position in Faraday Future Intelligent Electric in the 2nd quarter valued at about $29,000. Finally, Wealthspire Advisors LLC purchased a new position in Faraday Future Intelligent Electric in the 2nd quarter valued at about $25,000. Hedge funds and other institutional investors own 71.74% of the company’s stock.

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.