Freedom Acquisition I Corp. (NASDAQ:FACT) Short Interest Up 2,714.9% in May

Freedom Acquisition I Corp. (NASDAQ:FACT) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 49,626 shares, an increase of 2,714.9% from the May 14th total of 1,763 shares. Based on an average trading volume of 337,977 shares, the short-interest ratio is currently 0.1 days. Approximately 0.3% of the shares of the stock are sold short.

Institutional Trading of Freedom Acquisition I

Several hedge funds and other institutional investors have recently bought and sold shares of FACT. Rangeley Capital LLC purchased a new stake in Freedom Acquisition I in the 1st quarter worth approximately $163,000. Readystate Asset Management LP purchased a new stake in Freedom Acquisition I in the 3rd quarter worth approximately $258,000. Clear Street Group Inc. purchased a new stake in Freedom Acquisition I in the 3rd quarter worth approximately $455,000. Moore Capital Management LP purchased a new stake in Freedom Acquisition I in the 2nd quarter worth approximately $1,033,000. Finally, Sandia Investment Management LP purchased a new stake in Freedom Acquisition I in the 2nd quarter worth approximately $1,287,000. 55.82% of the stock is owned by hedge funds and other institutional investors.

Freedom Acquisition I Price Performance

Shares of FACT remained flat at $10.66 during mid-day trading on Tuesday. 13,033 shares of the stock were exchanged, compared to its average volume of 99,142. The stock’s 50-day simple moving average is $10.59 and its 200-day simple moving average is $10.50. Freedom Acquisition I has a fifty-two week low of $10.21 and a fifty-two week high of $10.75.

Freedom Acquisition I (NASDAQ:FACT) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.04 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings began coverage on shares of Freedom Acquisition I in a research report on Wednesday, April 8th. They set a “sell (d)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Freedom Acquisition I currently has an average rating of “Sell”.

About Freedom Acquisition I

Freedom Acquisition I Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses. Freedom Acquisition I Corp. was incorporated in 2020 and is based in New York, New York.