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

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) saw unusually large options trading on Monday. Stock traders bought 30,094 call options on the company. This represents an increase of 190% compared to the average volume of 10,376 call options.

Institutional Trading of Faraday Future Intelligent Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Faraday Future Intelligent Electric during the third quarter valued at $124,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Faraday Future Intelligent Electric during the 3rd quarter worth about $26,000. Rhumbline Advisers bought a new position in Faraday Future Intelligent Electric during the 3rd quarter valued at about $168,000. JPMorgan Chase & Co. acquired a new position in Faraday Future Intelligent Electric in the third quarter valued at about $48,000. Finally, Vanguard Group Inc. bought a new stake in Faraday Future Intelligent Electric during the third quarter worth about $9,307,000. 71.74% of the stock is currently owned by institutional investors and hedge funds.

Faraday Future Intelligent Electric Stock Performance

Shares of FFAI traded up $0.14 during mid-day trading on Monday, hitting $1.26. The company’s stock had a trading volume of 8,102,279 shares, compared to its average volume of 11,070,381. Faraday Future Intelligent Electric has a one year low of $0.83 and a one year high of $4.46. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.42 and a current ratio of 0.43. The firm has a market capitalization of $213.62 million, a PE ratio of -0.69 and a beta of 5.00. The stock’s 50-day moving average is $1.22 and its two-hundred day moving average is $1.68.

Wall Street Analysts Forecast Growth

FFAI has been the subject of a number of research analyst reports. Wall Street Zen upgraded Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a report on Monday, December 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Monday, December 15th. Litchfield Hills Research assumed coverage on shares of Faraday Future Intelligent Electric in a report on Thursday, November 20th. They issued a “buy” rating and a $5.00 price target for the company. Finally, Zacks Research raised shares of Faraday Future Intelligent Electric to a “hold” rating in a research report on Wednesday, October 8th. One equities 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’s stock. According to data from MarketBeat, Faraday Future Intelligent Electric has an average rating of “Hold” and a consensus target price of $5.00.

Faraday Future Intelligent Electric Company Profile

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.