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

HC Wainwright reaffirmed their buy rating on shares of REE Automotive (NASDAQ:REE) in a research note published on Monday morning,Benzinga reports. They currently have a $15.00 price target on the stock.

REE Automotive Trading Down 8.1 %

Shares of REE opened at $8.45 on Monday. The stock’s 50-day moving average price is $8.01 and its 200 day moving average price is $5.66. The company has a quick ratio of 2.15, a current ratio of 2.21 and a debt-to-equity ratio of 0.06. REE Automotive has a 12-month low of $2.91 and a 12-month high of $11.72. The firm has a market capitalization of $88.79 million, a price-to-earnings ratio of -0.94 and a beta of 3.03.

REE Automotive (NASDAQ:REE) last posted its quarterly earnings results on Tuesday, December 17th. The company reported ($1.24) earnings per share 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%. As a group, research analysts predict that REE Automotive will post -4.34 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in REE Automotive stock. Virtu Financial LLC purchased a new stake in REE Automotive Ltd. (NASDAQ:REE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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. 12.74% of the stock is currently owned by institutional investors.

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.