Faraday Future Intelligent Electric (NASDAQ:FFIE) Stock Price Up 5.3% – Still a Buy?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares rose 5.3% during mid-day trading on Monday . The company traded as high as $1.22 and last traded at $1.19. Approximately 5,944,147 shares were traded during trading, a decline of 43% from the average daily volume of 10,460,093 shares. The stock had previously closed at $1.13.

Faraday Future Intelligent Electric Trading Up 5.3%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.21 and a current ratio of 0.32. The stock’s fifty day simple moving average is $1.13 and its 200-day simple moving average is $1.36.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Investments LP purchased a new position in shares of Faraday Future Intelligent Electric in the 4th quarter worth approximately $34,000. Wealthspire Advisors LLC boosted its stake in shares of Faraday Future Intelligent Electric by 77.9% in the 1st quarter. Wealthspire Advisors LLC now owns 34,250 shares of the company’s stock worth $50,000 after buying an additional 15,000 shares during the last quarter. Diametric Capital LP purchased a new position in shares of Faraday Future Intelligent Electric in the 4th quarter worth about $78,000. XTX Topco Ltd purchased a new position in shares of Faraday Future Intelligent Electric in the 1st quarter worth about $71,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Faraday Future Intelligent Electric in the 4th quarter worth about $146,000. Hedge funds and other institutional investors own 71.74% of the company’s stock.

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.