Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) Short Interest Up 14.3% in April

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 57,955,930 shares, a growth of 14.3% from the March 31st total of 50,714,513 shares. Based on an average daily volume of 33,048,399 shares, the days-to-cover ratio is currently 1.8 days. Currently, 23.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Friday, March 27th. Wall Street Zen upgraded shares of Faraday Future Intelligent Electric to a “sell” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Faraday Future Intelligent Electric currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Institutional Trading of Faraday Future Intelligent Electric

A number of hedge funds and other institutional investors have recently modified their holdings of FFAI. SG Americas Securities LLC purchased a new stake in shares of Faraday Future Intelligent Electric in the 3rd quarter worth about $124,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Faraday Future Intelligent Electric in the 3rd quarter worth about $26,000. Rhumbline Advisers purchased a new stake in shares of Faraday Future Intelligent Electric in the 3rd quarter worth about $168,000. JPMorgan Chase & Co. purchased a new stake in shares of Faraday Future Intelligent Electric in the 3rd quarter worth about $48,000. Finally, Vanguard Group Inc. purchased a new stake in shares of Faraday Future Intelligent Electric in the 3rd quarter worth about $9,307,000. 71.74% of the stock is owned by hedge funds and other institutional investors.

Faraday Future Intelligent Electric Stock Up 13.6%

NASDAQ:FFAI opened at $0.44 on Friday. The firm’s 50-day moving average price is $0.36 and its 200-day moving average price is $0.85. The company has a market capitalization of $108.51 million, a PE ratio of -0.24 and a beta of 5.58. The company has a debt-to-equity ratio of 13.39, a current ratio of 0.46 and a quick ratio of 0.44. Faraday Future Intelligent Electric has a 1-year low of $0.21 and a 1-year high of $3.61.

Faraday Future Intelligent Electric (NASDAQ:FFAI) last released its earnings results on Tuesday, March 31st. The company reported $0.17 earnings per share for the quarter. Faraday Future Intelligent Electric had a negative net margin of 72,891.05% and a negative return on equity of 655.26%. On average, equities analysts predict that Faraday Future Intelligent Electric will post -1.19 EPS for the current fiscal year.

Faraday Future Intelligent Electric Company Profile

Faraday Future Intelligent Electric (NASDAQ:FFAI) is an American electric vehicle (EV) manufacturer focused on the development and production of high-performance intelligent electric vehicles. Leveraging a proprietary modular platform, the company aims to deliver a seamless and connected driving experience by integrating advanced hardware with its in-house software architecture. Faraday Future’s vehicles are designed to offer luxury appointments, customizable digital displays, and autonomous driving capabilities, positioning the company in the premium segment of the EV market.

Since its founding in 2014, Faraday Future has unveiled its flagship FF 91 model, showcasing rapid acceleration, long-range battery performance, and over-the-air software updates.