Traders Buy High Volume of Faraday Future Intelligent Electric Call Options (NASDAQ:FFAI)

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) was the target of some unusual options trading activity on Monday. Investors acquired 14,665 call options on the stock. This is an increase of approximately 90% compared to the average volume of 7,714 call options.

Faraday Future Intelligent Electric Trading Up 15.6%

Faraday Future Intelligent Electric stock traded up $0.07 during trading hours on Monday, hitting $0.52. The company had a trading volume of 52,934,734 shares, compared to its average volume of 12,777,594. The firm has a market cap of $101.67 million, a P/E ratio of -0.28 and a beta of 5.24. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.42 and a current ratio of 0.43. Faraday Future Intelligent Electric has a 1 year low of $0.44 and a 1 year high of $3.61. The company has a 50-day moving average price of $0.98 and a two-hundred day moving average price of $1.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FFAI. Vanguard Personalized Indexing Management LLC purchased a new position in Faraday Future Intelligent Electric during the 3rd quarter worth $26,000. Bank of America Corp DE purchased a new position in shares of Faraday Future Intelligent Electric during the third quarter valued at $35,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Faraday Future Intelligent Electric by 2,174.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 35,116 shares of the company’s stock valued at $36,000 after acquiring an additional 33,572 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Faraday Future Intelligent Electric in the third quarter worth about $48,000. Finally, Verition Fund Management LLC bought a new position in Faraday Future Intelligent Electric during the 3rd quarter worth about $48,000. Institutional investors own 71.74% of the company’s stock.

Analyst Ratings Changes

FFAI has been the topic of several analyst reports. Litchfield Hills Research initiated coverage on shares of Faraday Future Intelligent Electric in a report on Thursday, November 20th. They set a “buy” rating and a $5.00 price target on the stock. Wall Street Zen upgraded Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.