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

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 17,290,000 shares, an increase of 57.5% from the December 15th total of 10,980,000 shares. Based on an average daily volume of 15,120,000 shares, the days-to-cover ratio is currently 1.1 days. Currently, 42.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

A number of institutional investors have recently modified their holdings of FFIE. Victory Capital Management Inc. bought a new stake in shares of Faraday Future Intelligent Electric during the second quarter valued at approximately $29,000. Wealthspire Advisors LLC acquired a new position in Faraday Future Intelligent Electric during the 2nd quarter worth $25,000. Finally, Marathon Trading Investment Management LLC bought a new position in Faraday Future Intelligent Electric in the 2nd quarter valued at $102,000. 71.74% of the stock is owned by institutional investors.

Faraday Future Intelligent Electric Stock Down 2.3 %

Shares of NASDAQ:FFIE traded down $0.04 during midday trading on Friday, reaching $1.50. The company’s stock had a trading volume of 6,727,252 shares, compared to its average volume of 26,387,166. The business’s fifty day simple moving average is $1.55 and its 200-day simple moving average is $5.26. 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 fifty-two week low of $0.99 and a fifty-two week high of $156.00.

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.