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 November. As of November 15th, there was short interest totalling 7,400,000 shares, an increase of 53.5% from the October 31st total of 4,820,000 shares. Approximately 17.9% of the company’s stock are short sold. Based on an average daily trading volume, of 8,040,000 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of 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 period. Marathon Trading Investment Management LLC acquired a new position in shares of Faraday Future Intelligent Electric in the second quarter valued at about $102,000. Wealthspire Advisors LLC acquired a new stake in Faraday Future Intelligent Electric during the second quarter worth about $25,000. SG Americas Securities LLC acquired a new stake in Faraday Future Intelligent Electric during the second quarter worth about $420,000. Finally, Busey Bank acquired a new stake in Faraday Future Intelligent Electric during the second quarter worth about $252,000. 71.74% of the stock is owned by institutional investors and hedge funds.

Faraday Future Intelligent Electric Stock Down 10.6 %

Faraday Future Intelligent Electric stock traded down $0.13 during midday trading on Friday, reaching $1.10. The company’s stock had a trading volume of 9,111,227 shares, compared to its average volume of 5,288,905. The stock’s 50-day simple moving average is $2.11 and its 200-day simple moving average is $11.61. The company has a current ratio of 0.32, a quick ratio of 0.21 and a debt-to-equity ratio of 0.20. Faraday Future Intelligent Electric has a 52-week low of $0.99 and a 52-week high of $156.00.

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.