Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Sees Large Drop in Short Interest

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 27,840,000 shares, a decrease of 7.2% from the May 31st total of 30,000,000 shares. Based on an average trading volume of 194,270,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Faraday Future Intelligent Electric

A hedge fund recently raised its stake in Faraday Future Intelligent Electric stock. MCF Advisors LLC raised its position in shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) by 13,329.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 503,750 shares of the company’s stock after buying an additional 499,999 shares during the period. MCF Advisors LLC owned about 0.40% of Faraday Future Intelligent Electric worth $116,000 at the end of the most recent reporting period. 71.74% of the stock is currently owned by institutional investors.

Faraday Future Intelligent Electric Trading Down 2.3 %

FFIE traded down $0.01 on Wednesday, hitting $0.42. 54,487,067 shares of the company were exchanged, compared to its average volume of 112,943,656. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.22 and a current ratio of 0.35. The firm has a fifty day simple moving average of $0.52 and a two-hundred day simple moving average of $0.39. The stock has a market capitalization of $186.53 million, a PE ratio of 0.00 and a beta of 5.74. Faraday Future Intelligent Electric has a 12 month low of $0.04 and a 12 month high of $83.64.

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.