REE Automotive (NASDAQ:REE) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of REE Automotive (NASDAQ:REE) in a report issued on Monday,Benzinga reports. The firm currently has a $15.00 price objective on the stock.

REE Automotive Price Performance

Shares of REE opened at $8.29 on Monday. 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 company’s fifty day moving average price is $8.08 and its 200-day moving average price is $5.74. REE Automotive has a 1-year low of $2.91 and a 1-year high of $11.72. The firm has a market capitalization of $87.11 million, a PE ratio of -0.93 and a beta of 3.03.

REE Automotive (NASDAQ:REE) last issued its quarterly 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). 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 predict that REE Automotive will post -4.34 EPS for the current year.

Hedge Funds Weigh In On REE Automotive

A hedge fund recently raised its stake in REE Automotive stock. M&G PLC raised its stake in shares of REE Automotive Ltd. (NASDAQ:REE) by 69.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,960,017 shares of the company’s stock after buying an additional 1,213,003 shares during the period. M&G PLC owned about 28.17% of REE Automotive worth $20,720,000 at the end of the most recent quarter. Institutional investors and hedge funds own 12.74% of the company’s stock.

REE Automotive Company Profile

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.