Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE – Get Rating) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 29,540,000 shares, a growth of 37.5% from the August 31st total of 21,490,000 shares. Based on an average trading volume of 24,160,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 20.4% of the company's shares are sold short.
Institutional Trading of Faraday Future Intelligent Electric
Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. bought a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter valued at $27,000. Ovata Capital Management Ltd bought a new stake in shares of Faraday Future Intelligent Electric during the 1st quarter valued at $54,000. ProShare Advisors LLC bought a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter valued at $29,000. Qube Research & Technologies Ltd bought a new stake in shares of Faraday Future Intelligent Electric during the 4th quarter valued at $68,000. Finally, MQS Management LLC bought a new position in Faraday Future Intelligent Electric in the 2nd quarter worth about $34,000.
Get Faraday Future Intelligent Electric alerts:Wall Street Analyst Weigh In
Separately, Benchmark lowered Faraday Future Intelligent Electric from a "buy" rating to a "hold" rating in a research note on Tuesday, August 16th.
Faraday Future Intelligent Electric Stock Performance
Shares of FFIE stock opened at $0.64 on Friday. Faraday Future Intelligent Electric has a 12 month low of $0.63 and a 12 month high of $9.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.68 and a current ratio of 0.68. The company's fifty day moving average price is $1.62 and its 200-day moving average price is $2.99.Faraday Future Intelligent Electric Company Profile
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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 and internationally. The company was incorporated in 2014 and is headquartered in Gardena, California.
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