Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Short Interest Update

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,760,000 shares, an increase of 168.6% from the August 15th total of 1,400,000 shares. Based on an average trading volume of 8,280,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 30.4% of the company’s shares are short sold.

Faraday Future Intelligent Electric Stock Up 0.7 %

Shares of FFIE traded up $0.03 on Friday, hitting $4.07. The company’s stock had a trading volume of 3,080,984 shares, compared to its average volume of 4,754,712. The company has a quick ratio of 0.15, a current ratio of 0.26 and a debt-to-equity ratio of 0.18. Faraday Future Intelligent Electric has a fifty-two week low of $1.52 and a fifty-two week high of $693.60. The firm’s fifty day moving average price is $10.13 and its 200-day moving average price is $12.24. The firm has a market capitalization of $50.39 million, a price-to-earnings ratio of -0.03 and a beta of 5.65.

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. The company had revenue of $0.29 million during the quarter. Faraday Future Intelligent Electric had a negative net margin of 29,540.78% and a negative return on equity of 117.46%.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Institutional investors have recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC bought a new position in shares of Faraday Future Intelligent Electric during the second quarter valued at $25,000. Victory Capital Management Inc. purchased a new position in shares of Faraday Future Intelligent Electric in the 2nd quarter worth about $29,000. Marathon Trading Investment Management LLC bought a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter valued at approximately $102,000. Busey Bank purchased a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter worth approximately $252,000. Finally, SG Americas Securities LLC bought a new stake in shares of Faraday Future Intelligent Electric in the 2nd quarter worth approximately $420,000. 71.74% of the stock is currently owned by institutional investors and hedge funds.

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.