M&G Plc Has $20.72 Million Stake in REE Automotive Ltd. (NASDAQ:REE)

M&G Plc increased its stake in shares of REE Automotive Ltd. (NASDAQ:REE) by 69.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,960,017 shares of the company’s stock after purchasing an additional 1,213,003 shares during the quarter. M&G Plc owned about 28.17% of REE Automotive worth $20,720,000 at the end of the most recent quarter.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of REE Automotive in a research report on Friday, September 27th.

REE Automotive Stock Performance

Shares of REE Automotive stock opened at $7.31 on Friday. The firm has a fifty day moving average of $6.24 and a two-hundred day moving average of $4.82. 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 stock has a market capitalization of $76.81 million, a price-to-earnings ratio of -0.82 and a beta of 3.04. REE Automotive Ltd. has a 52 week low of $2.91 and a 52 week high of $8.75.

REE Automotive (NASDAQ:REE) last released its quarterly earnings data on Thursday, September 26th. The company reported ($1.19) EPS for the quarter, beating analysts’ consensus estimates of ($1.76) by $0.57. REE Automotive had a negative return on equity of 119.91% and a negative net margin of 6,265.21%. As a group, equities research analysts predict that REE Automotive Ltd. will post -4.34 EPS for the current year.

REE Automotive 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.