Faraday Future Intelligent Electric (NASDAQ:FFIE) Shares Down 3.6% - Here's What Happened

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE - Get Free Report)'s share price fell 3.6% on Monday . The stock traded as low as $1.06 and last traded at $1.07. 4,649,490 shares traded hands during trading, a decline of 62% from the average session volume of 12,161,802 shares. The stock had previously closed at $1.11.Faraday Future Intelligent Electric Price PerformanceFaraday Future: When Meme Stock Hype Meets RealityThe company has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.68. 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 capitalization of $78.05 million, a PE ratio of -0.03 and a beta of 4.80. Institutional Investors Weigh In On Faraday Future Intelligent ElectricA number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC purchased a new stake in Faraday Future Intelligent Electric during the 2nd quarter worth $25,000. ProShare Advisors LLC acquired a new position in shares of Faraday Future Intelligent Electric during the second quarter worth about $26,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Faraday Future Intelligent Electric in the second quarter worth about $29,000. Bank of America Corp DE grew its stake in shares of Faraday Future Intelligent Electric by 4,848.6% in the second quarter. Bank of America Corp DE now owns 28,603 shares of the company's stock valued at $41,000 after buying an additional 28,025 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 71.74% of the company's stock. Faraday Future Intelligent Electric Company Profile (Get Free Report)Sell the Meme Stocks in May and Go Away?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. Recommended StoriesFive stocks we like better than Faraday Future Intelligent ElectricHow to Calculate Inflation RateServiceNow’s $7 Billion Gamble: Panic or Opportunity?How to Buy Gold Stock and Invest in GoldDell and HP Are Raising Prices—And Investors Should Take NoteValue Investing: Is it a Good Strategy in 2022? Hint: AlwaysWhy DLocal Is the Top Emerging Market Fintech Stock to Watch for 2026This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.These 5 Penny Stocks Just Surged Double DigitsShould You Invest $1,000 in Faraday Future Intelligent Electric Right Now?Before you consider Faraday Future Intelligent Electric, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Faraday Future Intelligent Electric wasn't on the list.While Faraday Future Intelligent Electric currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here