Short Interest in Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Drops By 7.2%

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 27,840,000 shares, a drop of 7.2% from the May 31st total of 30,000,000 shares. Based on an average trading volume of 194,270,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Faraday Future Intelligent Electric

A hedge fund recently raised its stake in Faraday Future Intelligent Electric stock. MCF Advisors LLC boosted its position in Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) by 13,329.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,750 shares of the company’s stock after buying an additional 499,999 shares during the period. MCF Advisors LLC owned approximately 0.40% of Faraday Future Intelligent Electric worth $116,000 at the end of the most recent quarter. 71.74% of the stock is owned by hedge funds and other institutional investors.

Faraday Future Intelligent Electric Stock Down 2.3 %

FFIE stock opened at $0.42 on Thursday. The stock has a 50-day moving average price of $0.52 and a 200-day moving average price of $0.39. Faraday Future Intelligent Electric has a 1-year low of $0.04 and a 1-year high of $83.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.35 and a quick ratio of 0.22.

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.