REE Automotive Ltd. (NASDAQ:REE - Get Free Report) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 234,400 shares, a drop of 28.6% from the December 15th total of 328,400 shares. Based on an average trading volume of 82,800 shares, the short-interest ratio is currently 2.8 days. Currently, 4.2% of the shares of the stock are short sold.
Institutional Trading of REE Automotive
A hedge fund recently bought a new stake in REE Automotive stock. Virtu Financial LLC purchased a new position in REE Automotive Ltd. (NASDAQ:REE - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,555 shares of the company's stock, valued at approximately $138,000. Virtu Financial LLC owned 0.19% of REE Automotive at the end of the most recent quarter. 12.74% of the stock is owned by institutional investors and hedge funds.
REE Automotive Stock Down 0.6 %
Shares of NASDAQ:REE traded down $0.05 on Friday, reaching $8.80. The company had a trading volume of 21,351 shares, compared to its average volume of 46,948. The firm has a market capitalization of $92.49 million, a PE ratio of -0.96 and a beta of 2.92. The firm's 50 day simple moving average is $8.50 and its 200-day simple moving average is $6.29. REE Automotive has a 52-week low of $2.91 and a 52-week high of $11.72. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.17.
REE Automotive (NASDAQ:REE - Get Free Report) last released its earnings results on Tuesday, December 17th. The company reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.97) by ($0.27). As a group, analysts expect that REE Automotive will post -4.34 earnings per share for the current fiscal year.
Analyst Ratings Changes
Separately, HC Wainwright reiterated a "buy" rating and issued a $15.00 price target on shares of REE Automotive in a research note on Monday, December 23rd.
Get Our Latest Report on REE
REE Automotive Company Profile
(
Get 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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider REE Automotive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and REE Automotive wasn't on the list.
While REE Automotive currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
