REE Automotive’s (REE) “Buy” Rating Reiterated at HC Wainwright

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 80.94% from the stock’s current price.

REE Automotive Trading Down 1.9 %

Shares of REE Automotive stock opened at $8.29 on Monday. The company has a current ratio of 2.21, a quick ratio of 2.15 and a debt-to-equity ratio of 0.06. REE Automotive has a twelve month low of $2.91 and a twelve month high of $11.72. The firm has a market capitalization of $87.11 million, a PE ratio of -0.93 and a beta of 3.03. The firm’s 50-day moving average price is $8.04 and its 200 day moving average price is $5.69.

REE Automotive (NASDAQ:REE) last released its earnings results on Tuesday, December 17th. The company reported ($1.24) earnings per share 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, sell-side analysts predict that REE Automotive will post -4.34 EPS for the current fiscal year.

Hedge Funds Weigh In On REE Automotive

A hedge fund recently raised its stake in REE Automotive stock. M&G PLC boosted its stake in shares of REE Automotive Ltd. (NASDAQ:REE) by 69.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,960,017 shares of the company’s stock after buying an additional 1,213,003 shares during the period. M&G PLC owned 28.17% of REE Automotive worth $20,720,000 at the end of the most recent quarter. 12.74% of the stock is owned by hedge funds and other institutional investors.

REE Automotive Company Profile

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.