REE Automotive (NASDAQ:REE) Given Buy Rating at HC Wainwright

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 252.11% from the company’s previous close.

REE Automotive Stock Performance

REE stock opened at $4.26 on Wednesday. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.17. REE Automotive has a twelve month low of $2.91 and a twelve month high of $11.72. The business’s fifty day moving average is $7.72 and its 200-day moving average is $7.47. The company has a market cap of $59.24 million, a P/E ratio of -0.47 and a beta of 2.94.

REE Automotive (NASDAQ:REE) last released its quarterly earnings data on Tuesday, December 17th. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.27). Equities research analysts forecast that REE Automotive will post -5.06 EPS for the current year.

Hedge Funds Weigh In On REE Automotive

A number of large investors have recently added to or reduced their stakes in REE. Virtu Financial LLC bought a new position in REE Automotive during the 3rd quarter worth about $138,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of REE Automotive in the 4th quarter valued at about $160,000. MYDA Advisors LLC bought a new position in shares of REE Automotive in the 4th quarter valued at about $318,000. Fulton Breakefield Broenniman LLC bought a new position in shares of REE Automotive in the 4th quarter valued at about $457,000. Finally, Renaissance Technologies LLC grew its holdings in shares of REE Automotive by 5.8% in the 4th quarter. Renaissance Technologies LLC now owns 69,577 shares of the company’s stock valued at $614,000 after acquiring an additional 3,800 shares in the last quarter. 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.