REE Automotive Ltd. (NASDAQ:REE - Get Free Report)'s share price traded down 3.9% during trading on Monday . The company traded as low as $7.60 and last traded at $8.11. 70,635 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 55,444 shares. The stock had previously closed at $8.44.
Wall Street Analyst Weigh In
Separately, HC Wainwright reiterated a "buy" rating and set a $15.00 target price on shares of REE Automotive in a research report on Monday, December 23rd.
Read Our Latest Stock Report on REE
REE Automotive Price Performance
The stock has a 50 day moving average price of $8.43 and a 200-day moving average price of $6.22. 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 market capitalization of $88.90 million, a price-to-earnings ratio of -0.95 and a beta of 2.92.
REE Automotive (NASDAQ:REE - Get Free Report) last announced its earnings results on Tuesday, December 17th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.27). REE Automotive had a negative return on equity of 119.91% and a negative net margin of 6,265.21%. On average, analysts forecast that REE Automotive Ltd. will post -4.34 earnings per share for the current year.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in REE Automotive stock. Virtu Financial LLC purchased a new stake in REE Automotive Ltd. (NASDAQ:REE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,555 shares of the company's stock, valued at approximately $138,000. Virtu Financial LLC owned about 0.19% of REE Automotive as of its most recent SEC filing. Hedge funds and other institutional investors own 12.74% of the company's stock.
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.
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