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

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) was the recipient of unusually large options trading on Friday. Investors acquired 22,365 call options on the stock. This represents an increase of 186% compared to the average volume of 7,824 call options.

Faraday Future Intelligent Electric Stock Performance

Shares of FFAI opened at $0.77 on Friday. The stock has a market cap of $151.48 million, a P/E ratio of -0.42 and a beta of 5.24. Faraday Future Intelligent Electric has a one year low of $0.64 and a one year high of $3.61. 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 stock has a 50-day moving average of $1.08 and a two-hundred day moving average of $1.52.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

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

Analysts Set New Price Targets

A number of equities research analysts have commented on FFAI shares. Wall Street Zen upgraded Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Monday, December 29th. Finally, Litchfield Hills Research began coverage on shares of Faraday Future Intelligent Electric in a research note on Thursday, November 20th. They issued a “buy” rating and a $5.00 target price for the company. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.