Short Interest in Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Expands By 37.0%

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 46,920,000 shares, an increase of 37.0% from the July 15th total of 34,250,000 shares. Currently, 10.6% of the company’s shares are sold short. Based on an average trading volume of 208,980,000 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

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

Faraday Future Intelligent Electric Trading Down 24.5 %

Shares of NASDAQ:FFIE traded down $0.04 during midday trading on Thursday, reaching $0.13. The company’s stock had a trading volume of 128,956,253 shares, compared to its average volume of 101,945,563. Faraday Future Intelligent Electric has a fifty-two week low of $0.04 and a fifty-two week high of $66.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.21 and a current ratio of 0.32. The firm has a 50 day moving average price of $0.40 and a two-hundred day moving average price of $0.33. The firm has a market capitalization of $55.78 million, a price-to-earnings ratio of 0.00 and a beta of 5.73.

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.