Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Short Interest Down 13.9% in February

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) saw a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 15,730,000 shares, a decrease of 13.9% from the January 31st total of 18,280,000 shares. Approximately 22.9% of the company’s shares are sold short. Based on an average daily volume of 16,700,000 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in Faraday Future Intelligent Electric by 248.6% in the 4th quarter. Geode Capital Management LLC now owns 439,595 shares of the company’s stock valued at $1,068,000 after acquiring an additional 313,494 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Faraday Future Intelligent Electric by 775.3% during the fourth quarter. Northern Trust Corp now owns 108,318 shares of the company’s stock valued at $263,000 after purchasing an additional 95,943 shares during the period. Millennium Management LLC bought a new position in shares of Faraday Future Intelligent Electric in the fourth quarter worth about $162,000. Victory Capital Management Inc. increased its stake in Faraday Future Intelligent Electric by 10.6% in the 3rd quarter. Victory Capital Management Inc. now owns 62,638 shares of the company’s stock worth $180,000 after buying an additional 5,983 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in Faraday Future Intelligent Electric during the 4th quarter valued at about $146,000. 71.74% of the stock is owned by institutional investors.

Faraday Future Intelligent Electric Stock Performance

Shares of NASDAQ:FFIE opened at $1.32 on Friday. The business has a 50 day simple moving average of $1.66 and a two-hundred day simple moving average of $2.28. Faraday Future Intelligent Electric has a 1 year low of $0.99 and a 1 year high of $156.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.21 and a current ratio of 0.32.

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.