REE Automotive’s (REE) Buy Rating Reaffirmed at HC Wainwright

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 135.11% from the company’s current price.

REE Automotive Stock Performance

Shares of REE opened at $6.38 on Friday. The company has a market capitalization of $67.05 million, a PE ratio of -0.59 and a beta of 2.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.58 and a quick ratio of 2.53. REE Automotive has a one year low of $2.30 and a one year high of $8.43. The company’s fifty day moving average price is $3.98 and its 200 day moving average price is $4.34.

Institutional Trading of REE Automotive

A hedge fund recently bought a new stake in REE Automotive stock. M&G Plc acquired a new stake in shares of REE Automotive Ltd. (NASDAQ:REE) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,747,014 shares of the company’s stock, valued at approximately $10,482,000. M&G Plc owned about 16.62% of REE Automotive as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 12.74% of the company’s stock.

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.