M&G PLC lifted its holdings in REE Automotive Ltd. (NASDAQ:REE - Free Report) by 69.4% during the 3rd quarter, according to the company in its most recent Form 13F 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 approximately 28.17% of REE Automotive worth $20,720,000 at the end of the most recent quarter.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reissued a "buy" rating and set a $15.00 price target on shares of REE Automotive in a research report on Friday, September 27th.
Check Out Our Latest Report on REE Automotive
REE Automotive Stock Down 1.6 %
REE traded down $0.12 on Friday, hitting $7.19. The company had a trading volume of 16,371 shares, compared to its average volume of 113,836. REE Automotive Ltd. has a 12-month low of $2.91 and a 12-month high of $8.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.21 and a quick ratio of 2.15. The stock has a fifty day moving average price of $6.24 and a 200-day moving average price of $4.82.
REE Automotive (NASDAQ:REE - Get Free Report) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($1.19) EPS for the quarter, beating the consensus estimate of ($1.76) by $0.57. REE Automotive had a negative return on equity of 119.91% and a negative net margin of 6,265.21%. On average, equities research analysts forecast that REE Automotive Ltd. will post -4.34 EPS for the current year.
REE Automotive Company Profile
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Free Report)
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.
Further Reading
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