Stock Traders Purchase High Volume of Call Options on Faraday Future Intelligent Electric (NASDAQ:FFIE)

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) saw unusually large options trading activity on Friday. Traders bought 33,674 call options on the stock. This is an increase of 186% compared to the average daily volume of 11,758 call options.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FFIE. Victory Capital Management Inc. lifted its stake in shares of Faraday Future Intelligent Electric by 10.6% in the third quarter. Victory Capital Management Inc. now owns 62,638 shares of the company’s stock valued at $180,000 after buying an additional 5,983 shares during the period. Wealthspire Advisors LLC bought a new stake in shares of Faraday Future Intelligent Electric in the 2nd quarter worth approximately $25,000. Finally, Marathon Trading Investment Management LLC acquired a new stake in shares of Faraday Future Intelligent Electric during the 2nd quarter worth approximately $102,000. 71.74% of the stock is currently owned by institutional investors and hedge funds.

Faraday Future Intelligent Electric Stock Performance

Shares of Faraday Future Intelligent Electric stock opened at $1.76 on Friday. Faraday Future Intelligent Electric has a 12-month low of $0.99 and a 12-month high of $156.00. The company has a quick ratio of 0.21, a current ratio of 0.32 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average price of $1.50 and a two-hundred day moving average price of $6.85.

About Faraday Future Intelligent Electric

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. The company was incorporated in 2014 and is headquartered in Los Angeles, California.