REE Automotive (NASDAQ:REE) Trading Down 3.9% – Here’s What Happened

REE Automotive Ltd. (NASDAQ:REE)’s stock price fell 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 reissued a “buy” rating and issued a $15.00 target price on shares of REE Automotive in a research note on Monday, December 23rd.

REE Automotive Stock Performance

The firm has a 50 day moving average price of $8.43 and a 200-day moving average price of $6.22. The stock has a market capitalization of $85.22 million, a PE ratio of -0.91 and a beta of 2.92. 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 (NASDAQ:REE) last issued its 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%. Research analysts expect that REE Automotive Ltd. will post -4.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in REE Automotive stock. Virtu Financial LLC bought a new position in shares of REE Automotive Ltd. (NASDAQ:REE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,555 shares of the company’s stock, valued at approximately $138,000. Virtu Financial LLC owned 0.19% of REE Automotive at the end of the most recent reporting period. 12.74% of the stock is owned by institutional investors and hedge funds.

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.