Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Sees Large Increase in Short Interest

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) saw a large growth in short interest during the month of 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. Based on an average daily volume of 8,280,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 30.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Faraday Future Intelligent Electric in the 2nd quarter worth about $420,000. Busey Bank purchased a new position in shares of Faraday Future Intelligent Electric during the second quarter valued at about $252,000. Marathon Trading Investment Management LLC purchased a new stake in Faraday Future Intelligent Electric in the second quarter worth about $102,000. Victory Capital Management Inc. bought a new stake in Faraday Future Intelligent Electric in the second quarter worth $29,000. Finally, Wealthspire Advisors LLC bought a new position in shares of Faraday Future Intelligent Electric in the second quarter worth approximately $25,000. Institutional investors own 71.74% of the company’s stock.

Faraday Future Intelligent Electric Stock Performance

Faraday Future Intelligent Electric stock opened at $3.99 on Friday. The business has a 50 day moving average of $9.89 and a 200-day moving average of $12.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.26 and a quick ratio of 0.15. The company has a market capitalization of $49.40 million, a P/E ratio of -0.03 and a beta of 5.65. Faraday Future Intelligent Electric has a 1 year low of $1.52 and a 1 year high of $693.60.

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

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.