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

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 3,530,000 shares, a drop of 6.1% from the August 31st total of 3,760,000 shares. Based on an average trading volume of 8,680,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately 28.5% of the company’s stock are short sold.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

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

Faraday Future Intelligent Electric Price Performance

Shares of NASDAQ:FFIE opened at $2.78 on Monday. Faraday Future Intelligent Electric has a 1-year low of $1.52 and a 1-year high of $210.00. 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 business has a fifty day moving average price of $7.10 and a 200-day moving average price of $12.04. The company has a market capitalization of $1.22 billion, a PE ratio of -0.02 and a beta of 5.65.

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

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.