Faraday Future Intelligent Electric Target of Unusually High Options Trading (NASDAQ:FFAI)

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) was the target of unusually large options trading activity on Monday. Traders acquired 14,665 call options on the company. This is an increase of 90% compared to the typical daily volume of 7,714 call options.

Hedge Funds Weigh In On Faraday Future Intelligent Electric

Several large investors have recently added to or reduced their stakes in FFAI. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Faraday Future Intelligent Electric during the 3rd quarter worth $26,000. Bank of America Corp DE acquired a new position in Faraday Future Intelligent Electric in the third quarter valued at $35,000. Caitong International Asset Management Co. Ltd grew its position in Faraday Future Intelligent Electric by 2,174.4% during 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 during the period. Police & Firemen s Retirement System of New Jersey increased its stake in Faraday Future Intelligent Electric by 89.1% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 38,416 shares of the company’s stock worth $39,000 after acquiring an additional 18,102 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Faraday Future Intelligent Electric during the fourth quarter worth about $44,000. 71.74% of the stock is currently owned by hedge funds and other institutional investors.

Faraday Future Intelligent Electric Stock Performance

Shares of FFAI opened at $0.50 on Wednesday. Faraday Future Intelligent Electric has a 12-month low of $0.44 and a 12-month high of $3.61. The stock has a market cap of $97.66 million, a P/E ratio of -0.27 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. The company has a 50-day moving average of $0.95 and a two-hundred day moving average of $1.35.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FFAI shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Faraday Future Intelligent Electric in a report on Monday, December 29th. Litchfield Hills Research began coverage on shares of Faraday Future Intelligent Electric in a research report on Thursday, November 20th. They set a “buy” rating and a $5.00 price target for the company. Finally, Wall Street Zen raised Faraday Future Intelligent Electric from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.