Geode Capital Management LLC cut its stake in Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE - Free Report) by 80.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,101 shares of the company's stock after selling 515,969 shares during the period. Geode Capital Management LLC owned about 1.02% of Faraday Future Intelligent Electric worth $362,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in Faraday Future Intelligent Electric by 10.6% in the third quarter. Victory Capital Management Inc. now owns 62,638 shares of the company's stock valued at $180,000 after purchasing an additional 5,983 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter worth $102,000. Finally, Wealthspire Advisors LLC purchased a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter worth approximately $25,000. Hedge funds and other institutional investors own 71.74% of the company's stock.
Faraday Future Intelligent Electric Stock Down 25.0 %
Shares of Faraday Future Intelligent Electric stock opened at $1.56 on Monday. The business has a 50 day moving average price of $1.58 and a 200 day moving average price of $5.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.21 and a current ratio of 0.32. Faraday Future Intelligent Electric Inc. has a 1 year low of $0.99 and a 1 year high of $156.00.
About Faraday Future Intelligent Electric
(
Free Report)
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.
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