REE Automotive (NASDAQ:REE) Earns “Buy” Rating from HC Wainwright

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 69.49% from the company’s current price.

REE Automotive Stock Down 3.7 %

Shares of NASDAQ REE traded down $0.34 during midday trading on Monday, hitting $8.85. The company’s stock had a trading volume of 47,607 shares, compared to its average volume of 111,400. REE Automotive has a 1 year low of $2.91 and a 1 year high of $11.72. The business’s fifty day simple moving average is $8.01 and its two-hundred day simple moving average is $5.66. The firm has a market capitalization of $93.00 million, a price-to-earnings ratio of -0.99 and a beta of 3.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.21 and a quick ratio of 2.15.

REE Automotive (NASDAQ:REE) last announced its quarterly earnings data on Tuesday, December 17th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.27). REE Automotive had a negative net margin of 6,265.21% and a negative return on equity of 119.91%. On average, equities analysts predict that REE Automotive will post -4.34 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in REE Automotive stock. M&G PLC raised its position in REE Automotive Ltd. (NASDAQ:REE) by 69.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,960,017 shares of the company’s stock after buying an additional 1,213,003 shares during the quarter. M&G PLC owned about 28.17% of REE Automotive worth $20,720,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 12.74% of the company’s stock.

About REE Automotive

REE Automotive Ltd. operates as an automotive technology company in France, the United Kingdom, the United States, and internationally. The company offers REEcorner, a compact module that integrates critical vehicle drive components comprising as steering, braking, suspension, powertrain, and control between the chassis and the wheel; and REEplatform that allows for the addition of a modular and customizable top hat/cabin design based on customer specifications, without requiring modification to the platform.