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

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

Hedge Funds Weigh In On Faraday Future Intelligent Electric

A number of large investors have recently bought and sold shares of the business. Wealthspire Advisors LLC purchased a new position in shares of Faraday Future Intelligent Electric during the second quarter worth approximately $25,000. Victory Capital Management Inc. purchased a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter worth $29,000. Marathon Trading Investment Management LLC purchased a new position in Faraday Future Intelligent Electric in the second quarter valued at about $102,000. Busey Bank bought a new position in Faraday Future Intelligent Electric in the second quarter worth about $252,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Faraday Future Intelligent Electric during the second quarter valued at about $420,000. Hedge funds and other institutional investors own 71.74% of the company's stock.

Faraday Future Intelligent Electric Price Performance

FFIE traded up $0.09 during trading on Monday, hitting $2.87. 7,461,610 shares of the company traded hands, compared to its average volume of 4,884,443. Faraday Future Intelligent Electric has a 1 year low of $1.52 and a 1 year high of $210.00. The company has a current ratio of 0.26, a quick ratio of 0.15 and a debt-to-equity ratio of 0.18. The stock's 50-day simple moving average is $7.10 and its two-hundred day simple moving average is $12.04. The company has a market cap of $1.26 billion, a PE ratio of -0.02 and a beta of 5.65.

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

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.