Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Sees Significant Increase in Short Interest

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) was the recipient of a large 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 shares of the company are short sold. Based on an average daily volume of 8,040,000 shares, the short-interest ratio is currently 0.9 days.

Faraday Future Intelligent Electric Stock Performance

FFIE stock traded down $0.13 on Friday, reaching $1.10. The company’s stock had a trading volume of 9,127,040 shares, compared to its average volume of 6,082,280. The firm has a fifty day moving average of $2.07 and a two-hundred day moving average of $11.60. 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 has a 52 week low of $0.99 and a 52 week high of $156.00.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several large investors have recently bought and sold shares of FFIE. Victory Capital Management Inc. boosted 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 acquiring an additional 5,983 shares in the last quarter. Marathon Trading Investment Management LLC acquired a new stake in Faraday Future Intelligent Electric in the second quarter worth approximately $102,000. Wealthspire Advisors LLC bought a new position in Faraday Future Intelligent Electric during the 2nd quarter valued at $25,000. SG Americas Securities LLC acquired a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter valued at $420,000. Finally, Busey Bank bought a new stake in shares of Faraday Future Intelligent Electric in the 2nd quarter worth $252,000. Institutional investors and hedge funds own 71.74% of the company’s stock.

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.