Short Interest in Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) Drops By 98.6%

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 3,970,000 shares, a decrease of 98.6% from the August 15th total of 286,630,000 shares. Based on an average daily trading volume, of 1,620,000 shares, the short-interest ratio is presently 2.5 days. Approximately 23.1% of the shares of the stock are sold short.

Faraday Future Intelligent Electric Stock Up 32.0 %

Shares of NASDAQ:FFIE opened at $5.12 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.51 and a current ratio of 0.56. Faraday Future Intelligent Electric has a 52-week low of $3.38 and a 52-week high of $105.60. The company has a market capitalization of $95.24 million, a PE ratio of -0.08 and a beta of 2.05. The company has a fifty day moving average of $16.82 and a 200-day moving average of $21.91.

Faraday Future Intelligent Electric (NASDAQ:FFIE) last issued its quarterly earnings data on Monday, August 21st. The company reported ($8.00) earnings per share for the quarter, topping the consensus estimate of ($8.80) by $0.80.

Institutional Trading of Faraday Future Intelligent Electric

A number of institutional investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in Faraday Future Intelligent Electric during the second quarter valued at $76,000. Y Intercept Hong Kong Ltd bought a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter worth about $51,000. Charles Schwab Investment Management Inc. boosted its position in shares of Faraday Future Intelligent Electric by 27.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,790,510 shares of the company’s stock worth $958,000 after purchasing an additional 1,035,630 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Faraday Future Intelligent Electric during the 2nd quarter worth about $132,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Faraday Future Intelligent Electric by 231.7% during the 1st quarter. JPMorgan Chase & Co. now owns 388,302 shares of the company’s stock worth $137,000 after purchasing an additional 271,224 shares in the last quarter. Institutional investors own 18.16% of the company’s stock.

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.