REE Automotive Ltd. (NASDAQ:REE - Get Free Report) shares dropped 3.2% on Thursday . The company traded as low as $7.71 and last traded at $7.85. Approximately 18,995 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 35,654 shares. The stock had previously closed at $8.11.
Analyst Ratings Changes
Separately, HC Wainwright restated 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 Analysis on REE Automotive
REE Automotive Stock Down 1.1 %
The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.17. The stock has a market cap of $107.94 million, a P/E ratio of -0.85 and a beta of 2.92. The firm has a 50-day simple moving average of $8.78 and a two-hundred day simple moving average of $7.05.
REE Automotive (NASDAQ:REE - Get Free Report) last posted its quarterly earnings data 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). Equities research analysts expect that REE Automotive Ltd. will post -5.06 earnings per share for the current fiscal year.
Institutional Trading of REE Automotive
Large investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of REE Automotive during the 3rd quarter worth $138,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of REE Automotive during the 4th quarter worth $160,000. MYDA Advisors LLC acquired a new stake in shares of REE Automotive during the 4th quarter worth $318,000. Fulton Breakefield Broenniman LLC acquired a new stake in shares of REE Automotive during the 4th quarter worth $457,000. Finally, Renaissance Technologies LLC grew its holdings in shares of REE Automotive by 5.8% during the 4th quarter. Renaissance Technologies LLC now owns 69,577 shares of the company's stock worth $614,000 after purchasing an additional 3,800 shares in the last quarter. 12.74% of the stock is owned by institutional investors and hedge funds.
About REE Automotive
(
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.
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