Investors Purchase Large Volume of Call Options on Faraday Future Intelligent Electric (NASDAQ:FFAI)

Key Points

• Faraday Future Intelligent Electric saw a significant increase in call options trading, with 17,139 options purchased, up 26% from its average volume.
• The company received a rating upgrade from "sell" to "hold" by Wall Street Zen, signaling a more favorable outlook from analysts.
• FFAI shares traded down by 11.2%, closing at $2.39, despite its 1-year high of $16.28 and negative performance in terms of earnings and margins.

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 17,139 call options on the company. Thisisanincreaseof26% compared to the typical daily volume of 13,559 call options.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Faraday Future Intelligent Electric from a "sell" rating to a "hold" rating in a research note on Friday, July 18th.

Faraday Future Intelligent Electric Trading Down 5.6%

Shares of FFAI traded down $0.12 during midday trading on Friday, hitting $2.01. 12,798,062 shares of the stock were exchanged, compared to its average volume of 26,229,070. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average is $1.77. Faraday Future Intelligent Electric has a 52-week low of $0.83 and a 52-week high of $12.20.

Faraday Future Intelligent Electric (NASDAQ:FFAI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.14) EPS for the quarter. The company had revenue of $0.32 million during the quarter. Faraday Future Intelligent Electric had a negative net margin of 37,269.16% and a negative return on equity of 155.53%.

Faraday Future Intelligent Electric Company Profile

Faraday Future Intelligent Electric Inc engages in the design, development, manufacture, engineering, sale, and distribution of electric vehicles and related products in the United States and internationally. The company was founded in 2014 and is headquartered in Gardena, California.