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

Freedom Acquisition I Corp. (NASDAQ:FACT) was the target of 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 presently 0.1 days. Approximately 0.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Freedom Acquisition I

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC raised its stake in Freedom Acquisition I by 7.2% during the 4th quarter. Wolverine Asset Management LLC now owns 798,468 shares of the company’s stock valued at $8,312,000 after purchasing an additional 53,870 shares during the period. Bulldog Investors LLP boosted its position in shares of Freedom Acquisition I by 31.5% in the third quarter. Bulldog Investors LLP now owns 255,091 shares of the company’s stock worth $2,633,000 after buying an additional 61,091 shares during the period. Readystate Asset Management LP purchased a new position in shares of Freedom Acquisition I during the third quarter valued at $258,000. Goldman Sachs Group Inc. acquired a new position in Freedom Acquisition I during the first quarter valued at $4,232,000. Finally, Glazer Capital LLC raised its position in Freedom Acquisition I by 6.7% during the fourth quarter. Glazer Capital LLC now owns 645,836 shares of the company’s stock valued at $6,723,000 after buying an additional 40,328 shares during the period. Institutional investors and hedge funds own 55.82% of the company’s stock.

Freedom Acquisition I Stock Performance

FACT traded down $0.01 on Wednesday, reaching $10.65. The company had a trading volume of 1,264 shares, compared to its average volume of 98,225. The company has a fifty day moving average of $10.59 and a 200-day moving average of $10.50. Freedom Acquisition I has a one year low of $10.21 and a one year high of $10.75.

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

Analyst Upgrades and Downgrades

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