Faraday Future Intelligent Electric Sees Unusually Large Options Volume (NASDAQ:FFAI)

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) saw some unusual options trading on Friday. Traders acquired 22,365 call options on the stock. This represents an increase of 186% compared to the typical daily volume of 7,824 call options.

Institutional Investors Weigh In On Faraday Future Intelligent Electric

Several hedge funds have recently made changes to their positions in FFAI. Vanguard Personalized Indexing Management LLC acquired a new position in Faraday Future Intelligent Electric in the 3rd quarter valued at approximately $26,000. Bank of America Corp DE bought a new stake in shares of Faraday Future Intelligent Electric during the third quarter valued at approximately $35,000. Verition Fund Management LLC acquired a new position in shares of Faraday Future Intelligent Electric in the third quarter valued at $48,000. JPMorgan Chase & Co. bought a new position in Faraday Future Intelligent Electric in the third quarter worth $48,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Faraday Future Intelligent Electric during the third quarter worth $54,000. Institutional investors own 71.74% of the company’s stock.

Faraday Future Intelligent Electric Stock Down 6.2%

FFAI opened at $0.77 on Friday. The business has a 50 day moving average of $1.08 and a 200-day moving average of $1.53. The stock has a market capitalization of $151.48 million, a price-to-earnings ratio of -0.42 and a beta of 5.24. The company has a current ratio of 0.43, a quick ratio of 0.42 and a debt-to-equity ratio of 1.19. Faraday Future Intelligent Electric has a 1-year low of $0.64 and a 1-year high of $3.61.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FFAI. Litchfield Hills Research initiated coverage on Faraday Future Intelligent Electric in a research note on Thursday, November 20th. They set a “buy” rating and a $5.00 price target for the company. Wall Street Zen lowered Faraday Future Intelligent Electric from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.00.

About Faraday Future Intelligent Electric

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.