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

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 15,730,000 shares, a drop of 13.9% from the January 31st total of 18,280,000 shares. Currently, 22.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 16,700,000 shares, the short-interest ratio is currently 0.9 days.

Faraday Future Intelligent Electric Price Performance

Faraday Future Intelligent Electric stock opened at $1.32 on Friday. The company’s 50-day moving average price is $1.66 and its 200-day moving average price is $2.28. 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 twelve month low of $0.99 and a twelve month high of $156.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP bought a new stake in shares of Faraday Future Intelligent Electric in the 4th quarter valued at approximately $34,000. Diametric Capital LP purchased a new stake in Faraday Future Intelligent Electric during the 4th quarter valued at $78,000. Boothbay Fund Management LLC bought a new stake in Faraday Future Intelligent Electric in the fourth quarter worth $146,000. Millennium Management LLC purchased a new position in Faraday Future Intelligent Electric during the fourth quarter worth $162,000. Finally, Victory Capital Management Inc. increased its position in Faraday Future Intelligent Electric by 10.6% during 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 during the last quarter. Hedge funds and other institutional investors own 71.74% of the company’s stock.

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.