REE Automotive (NASDAQ:REE) Shares Down 3.9% – What’s Next?

Shares of REE Automotive Ltd. (NASDAQ:REE) traded down 3.9% during trading on Monday . The stock traded as low as $7.60 and last traded at $8.11. 70,635 shares were traded during mid-day trading, an increase of 27% from the average session volume of 55,444 shares. The stock had previously closed at $8.44.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of REE Automotive in a research note on Monday, December 23rd.

REE Automotive Stock Down 0.5 %

The stock has a 50-day simple moving average of $8.45 and a two-hundred day simple moving average of $6.25. The firm has a market cap of $88.48 million, a PE ratio of -0.94 and a beta of 2.92. The company has a quick ratio of 2.15, a current ratio of 2.21 and a debt-to-equity ratio of 0.06.

REE Automotive (NASDAQ:REE) last released its quarterly earnings data 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 net margin of 6,265.21% and a negative return on equity of 119.91%. Analysts expect that REE Automotive Ltd. will post -4.34 earnings per share for the current year.

Institutional Trading of REE Automotive

An institutional investor recently bought a new position in REE Automotive stock. Virtu Financial LLC bought a new stake in shares of REE Automotive Ltd. (NASDAQ:REE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 quarter. 12.74% of the stock is currently owned by hedge funds and other institutional investors.

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.