HC Wainwright Reiterates “Buy” Rating for REE Automotive (NASDAQ:REE)

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 69.49% from the company’s previous close.

REE Automotive Stock Performance

Shares of REE stock traded down $0.34 on Monday, hitting $8.85. The company had a trading volume of 47,607 shares, compared to its average volume of 111,400. The company has a 50-day moving average price of $8.01 and a 200-day moving average price of $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. The firm has a market cap of $93.00 million, a P/E ratio of -0.99 and a beta of 3.03. REE Automotive has a twelve month low of $2.91 and a twelve month high of $11.72.

REE Automotive (NASDAQ:REE) last announced its quarterly earnings results on Tuesday, December 17th. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.27). REE Automotive had a negative net margin of 6,265.21% and a negative return on equity of 119.91%. As a group, equities research analysts predict that REE Automotive will post -4.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On REE Automotive

A hedge fund recently bought a new stake in REE Automotive stock. Virtu Financial LLC bought a new stake in REE Automotive Ltd. (NASDAQ:REE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,555 shares of the company’s stock, valued at approximately $138,000. Virtu Financial LLC owned about 0.19% of REE Automotive at the end of the most recent reporting period. 12.74% of the stock is currently owned by hedge funds and other institutional investors.

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.