REE Automotive (NASDAQ:REE) Updates FY 2024 Earnings Guidance

REE Automotive (NASDAQ:REE) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of -7.010–7.010 for the period, compared to the consensus earnings per share estimate of -6.620. The company issued revenue guidance of -. REE Automotive also updated its Q4 2024 guidance to -1.510–1.510 EPS.

Analyst Ratings Changes

REE has been the subject of a number of analyst reports. Alliance Global Partners started coverage on REE Automotive in a report on Friday, April 11th. They issued a “buy” rating and a $8.50 price target for the company. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of REE Automotive in a research note on Wednesday, March 19th.

REE Automotive Price Performance

REE stock opened at $2.75 on Tuesday. REE Automotive has a 52-week low of $2.31 and a 52-week high of $11.72. The stock’s fifty day simple moving average is $4.28 and its 200-day simple moving average is $6.90. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $38.24 million, a price-to-earnings ratio of -0.30 and a beta of 3.18.

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.