Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Sees Significant Drop in Short Interest

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE - Get Free Report) saw a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 15,730,000 shares, a drop of 13.9% from the January 31st total of 18,280,000 shares. Based on an average daily trading volume, of 16,700,000 shares, the short-interest ratio is presently 0.9 days. Approximately 22.9% of the shares of the company are short sold.

Institutional Trading of Faraday Future Intelligent Electric

Large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP bought a new stake in shares of Faraday Future Intelligent Electric in the 4th quarter worth $34,000. Millennium Management LLC purchased a new position in Faraday Future Intelligent Electric in the fourth quarter valued at about $162,000. Northern Trust Corp grew its stake in Faraday Future Intelligent Electric by 775.3% in the fourth quarter. Northern Trust Corp now owns 108,318 shares of the company's stock valued at $263,000 after purchasing an additional 95,943 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Faraday Future Intelligent Electric in the fourth quarter worth about $146,000. Finally, Geode Capital Management LLC lifted its position in shares of Faraday Future Intelligent Electric by 248.6% in the fourth quarter. Geode Capital Management LLC now owns 439,595 shares of the company's stock worth $1,068,000 after buying an additional 313,494 shares during the last quarter. 71.74% of the stock is currently owned by institutional investors and hedge funds.

Faraday Future Intelligent Electric Price Performance

NASDAQ:FFIE traded up $0.13 during trading hours on Friday, reaching $1.45. 3,964,407 shares of the stock were exchanged, compared to its average volume of 9,031,166. The company has a current ratio of 0.32, a quick ratio of 0.21 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $1.66 and a 200-day simple moving average of $2.28. Faraday Future Intelligent Electric has a 52 week low of $0.99 and a 52 week high of $156.00.

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.