Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Short Interest Update

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 3,760,000 shares, a growth of 168.6% from the August 15th total of 1,400,000 shares. Approximately 30.4% of the company’s shares are short sold. Based on an average daily volume of 8,280,000 shares, the short-interest ratio is presently 0.5 days.

Faraday Future Intelligent Electric Trading Down 1.2 %

Shares of NASDAQ FFIE traded down $0.05 during midday trading on Friday, hitting $3.99. 4,026,180 shares of the company traded hands, compared to its average volume of 4,759,901. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.15 and a current ratio of 0.26. Faraday Future Intelligent Electric has a 12-month low of $1.52 and a 12-month high of $693.60. The stock has a 50-day moving average price of $9.89 and a 200 day moving average price of $12.22. The firm has a market cap of $49.40 million, a P/E ratio of -0.03 and a beta of 5.65.

Faraday Future Intelligent Electric (NASDAQ:FFIE) last announced its earnings results on Wednesday, August 14th. The company reported ($5.20) earnings per share (EPS) for the quarter. The firm had revenue of $0.29 million during the quarter. Faraday Future Intelligent Electric had a negative return on equity of 117.46% and a negative net margin of 29,540.78%.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in FFIE. Wealthspire Advisors LLC bought a new position in shares of Faraday Future Intelligent Electric in the 2nd quarter worth about $25,000. Victory Capital Management Inc. purchased a new stake in Faraday Future Intelligent Electric in the second quarter worth about $29,000. Marathon Trading Investment Management LLC bought a new position in shares of Faraday Future Intelligent Electric during the second quarter valued at approximately $102,000. Busey Bank purchased a new position in shares of Faraday Future Intelligent Electric during the second quarter valued at approximately $252,000. Finally, SG Americas Securities LLC purchased a new position in shares of Faraday Future Intelligent Electric during the second quarter valued at approximately $420,000. Hedge funds and other institutional investors 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.