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 during 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. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 337,977 shares, the days-to-cover ratio is currently 0.1 days.

Freedom Acquisition I Price Performance

Shares of FACT remained flat at $10.66 during mid-day trading on Tuesday. 13,033 shares of the company’s stock were exchanged, compared to its average volume of 99,142. The company’s fifty day simple moving average is $10.59 and its two-hundred day simple moving average is $10.50. Freedom Acquisition I has a 52 week low of $10.21 and a 52 week high of $10.75.

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

Hedge Funds Weigh In On Freedom Acquisition I

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rangeley Capital LLC acquired a new position in shares of Freedom Acquisition I during the 1st quarter valued at $163,000. Readystate Asset Management LP acquired a new position in shares of Freedom Acquisition I during the 3rd quarter valued at $258,000. Clear Street Group Inc. acquired a new position in shares of Freedom Acquisition I during the 3rd quarter valued at $455,000. Moore Capital Management LP acquired a new position in shares of Freedom Acquisition I during the 2nd quarter valued at $1,033,000. Finally, Sandia Investment Management LP acquired a new position in shares of Freedom Acquisition I during the 2nd quarter valued at $1,287,000. Institutional investors and hedge funds own 55.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings began coverage on shares of Freedom Acquisition I in a report on Wednesday, April 8th. They issued a “sell (d)” rating on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Freedom Acquisition I presently has a consensus 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.