REE Automotive (NASDAQ:REE) Releases Earnings Results, Misses Expectations By $0.27 EPS

REE Automotive (NASDAQ:REE - Get Free Report) announced its earnings results on Tuesday. The company reported ($1.24) EPS for the quarter, missing analysts' consensus estimates of ($0.97) by ($0.27), Zacks reports. REE Automotive had a negative net margin of 6,265.21% and a negative return on equity of 119.91%.

REE Automotive Stock Down 13.6 %

Shares of NASDAQ REE traded down $1.49 during midday trading on Tuesday, hitting $9.49. 567,931 shares of the company's stock were exchanged, compared to its average volume of 111,943. The company has a market cap of $99.74 million, a PE ratio of -1.06 and a beta of 3.03. REE Automotive has a twelve month low of $2.91 and a twelve month high of $11.72. The firm's fifty day simple moving average is $7.85 and its 200-day simple moving average is $5.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.21 and a quick ratio of 2.15.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price target on shares of REE Automotive in a research report on Friday, September 27th.

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.