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

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 80.94% from the company’s previous close.

REE Automotive Trading Down 1.9 %

Shares of NASDAQ:REE opened at $8.29 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.21 and a quick ratio of 2.15. REE Automotive has a 1 year low of $2.91 and a 1 year high of $11.72. The company has a market cap of $87.11 million, a P/E ratio of -0.93 and a beta of 3.03. The stock’s fifty day moving average price is $8.04 and its 200-day moving average price is $5.69.

REE Automotive (NASDAQ:REE) last released its quarterly earnings results on Tuesday, December 17th. The company reported ($1.24) earnings per share (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%. Sell-side analysts expect that REE Automotive will post -4.34 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in REE Automotive stock. Virtu Financial LLC bought a new position in REE Automotive Ltd. (NASDAQ:REE) during the third quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent SEC filing. 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.