REE Automotive (NASDAQ:REE) Issues Earnings Results

REE Automotive (NASDAQ:REE) announced its quarterly earnings data on Tuesday. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.27), Zacks reports. REE Automotive had a negative return on equity of 119.91% and a negative net margin of 6,265.21%.

REE Automotive Stock Down 1.4 %

Shares of REE stock opened at $10.83 on Tuesday. The stock’s 50 day simple moving average is $7.80 and its 200 day simple moving average is $5.52. REE Automotive has a twelve month low of $2.91 and a twelve month high of $11.72. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.15 and a current ratio of 2.21. The company has a market capitalization of $113.82 million, a price-to-earnings ratio of -1.23 and a beta of 3.03.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of REE Automotive in a report on Friday, September 27th.

About REE Automotive

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.