REE Automotive (NASDAQ:REE) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of REE Automotive (NASDAQ:REE) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $15.00 target price on the stock.

REE Automotive Stock Up 18.2 %

NASDAQ REE opened at $7.54 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.53 and a current ratio of 2.58. The company has a market capitalization of $79.25 million, a P/E ratio of -0.70 and a beta of 2.97. REE Automotive has a one year low of $2.30 and a one year high of $8.43. The stock has a 50 day moving average price of $4.05 and a 200-day moving average price of $4.35.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in REE Automotive stock. M&G Plc purchased a new position in REE Automotive Ltd. (NASDAQ:REE) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,747,014 shares of the company’s stock, valued at approximately $10,482,000. M&G Plc owned about 16.62% of REE Automotive as of its most recent SEC filing. 12.74% of the stock is currently owned by hedge funds and other institutional investors.

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.