Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Gap Down – What’s Next?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $2.75, but opened at $2.64. Faraday Future Intelligent Electric shares last traded at $2.50, with a volume of 2,348,879 shares traded.

Faraday Future Intelligent Electric Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 0.26 and a quick ratio of 0.15. The firm has a 50-day moving average of $5.04 and a 200-day moving average of $11.83. The stock has a market cap of $1.12 billion, a PE ratio of -0.02 and a beta of 5.61.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Faraday Future Intelligent Electric during the 2nd quarter valued at about $420,000. Busey Bank acquired a new position in Faraday Future Intelligent Electric during the 2nd quarter valued at about $252,000. Marathon Trading Investment Management LLC purchased a new position in shares of Faraday Future Intelligent Electric in the 2nd quarter valued at approximately $102,000. Victory Capital Management Inc. purchased a new position in shares of Faraday Future Intelligent Electric in the second quarter worth $29,000. Finally, Wealthspire Advisors LLC purchased a new position in Faraday Future Intelligent Electric in the 2nd quarter worth $25,000. 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.