REE Automotive (NASDAQ:REE) Stock Price Up 2.7% – Here’s Why

Shares of REE Automotive Ltd. (NASDAQ:REE) traded up 2.7% during mid-day trading on Monday . The company traded as high as $8.12 and last traded at $7.94. 40,729 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 110,013 shares. The stock had previously closed at $7.73.

Analyst Upgrades and Downgrades

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

REE Automotive Stock Performance

The stock’s 50 day moving average is $7.32 and its two-hundred day moving average is $5.19. The company has a current ratio of 2.21, a quick ratio of 2.15 and a debt-to-equity ratio of 0.06. The stock has a market cap of $83.43 million, a price-to-earnings ratio of -0.89 and a beta of 3.04.

REE Automotive (NASDAQ:REE) last posted its quarterly earnings results on Thursday, September 26th. The company reported ($1.19) EPS for the quarter, beating the consensus estimate 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%. Analysts anticipate that REE Automotive Ltd. will post -4.34 earnings per share for the current fiscal year.

Institutional Trading of REE Automotive

A hedge fund recently bought a new stake in REE Automotive stock. Virtu Financial LLC bought a new position in shares of REE Automotive Ltd. (NASDAQ:REE) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 19,555 shares of the company’s stock, valued at approximately $138,000. Virtu Financial LLC owned 0.19% of REE Automotive as of its most recent filing with the SEC. Institutional investors own 12.74% of the company’s stock.

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.