REE Automotive (NASDAQ:REE) Rating Reiterated by HC Wainwright

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $15.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 156.85% from the stock’s current price.

Separately, Cantor Fitzgerald reissued an “underweight” rating on shares of REE Automotive in a report on Friday, December 1st.

REE Automotive Trading Down 7.0 %

Shares of REE Automotive stock opened at $5.84 on Thursday. The company’s 50-day moving average price is $6.33 and its 200-day moving average price is $5.09. REE Automotive has a 12-month low of $2.30 and a 12-month high of $13.77. The company has a market cap of $61.38 million, a price-to-earnings ratio of -0.54 and a beta of 3.05.

Hedge Funds Weigh In On REE Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordwand Advisors LLC lifted its stake in shares of REE Automotive by 2.2% in the 3rd quarter. Nordwand Advisors LLC now owns 183,580 shares of the company’s stock valued at $27,000 after acquiring an additional 4,000 shares during the last quarter. Advisors Asset Management Inc. lifted its position in REE Automotive by 50.7% in the first quarter. Advisors Asset Management Inc. now owns 46,722 shares of the company’s stock valued at $89,000 after purchasing an additional 15,725 shares during the last quarter. UBS Group AG bought a new stake in REE Automotive in the first quarter valued at approximately $36,000. Susquehanna International Group LLP boosted its stake in shares of REE Automotive by 17.6% during the fourth quarter. Susquehanna International Group LLP now owns 154,125 shares of the company’s stock valued at $60,000 after purchasing an additional 23,063 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of REE Automotive by 65.6% in the second quarter. Goldman Sachs Group Inc. now owns 68,941 shares of the company’s stock worth $80,000 after buying an additional 27,312 shares during the period. 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 Israel, the United Kingdom, the United States, Germany, and internationally. The company offers REEcorner integrates vehicle components comprising as steering, braking, suspension, powertrain, and control into single compact module between the chassis and the wheel, which is controlled by its electronic unit functions, which includes drive-by-wire, steer-by-wire, break-by-wire, DaaS, smart corners, and design for serviceability; and REEplatform, a modular electric vehicle platform.