REE Automotive Ltd. (NASDAQ:REE) Sees Large Decline in Short Interest

REE Automotive Ltd. (NASDAQ:REE) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 307,051 shares, a drop of 23.3% from the December 15th total of 400,462 shares. Based on an average trading volume of 144,178 shares, the short-interest ratio is currently 2.1 days. Approximately 1.4% of the company’s stock are sold short. Approximately 1.4% of the company’s stock are sold short. Based on an average trading volume of 144,178 shares, the short-interest ratio is currently 2.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings assumed coverage on REE Automotive in a research note on Monday, January 5th. They issued a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.17.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in REE Automotive stock. Goldman Sachs Group Inc. purchased a new position in shares of REE Automotive Ltd. (NASDAQ:REE) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,232 shares of the company’s stock, valued at approximately $48,000. Goldman Sachs Group Inc. owned about 0.13% of REE Automotive as of its most recent SEC filing. 12.74% of the stock is owned by institutional investors.

REE Automotive Price Performance

REE stock traded down $0.02 during midday trading on Monday, hitting $0.74. The company’s stock had a trading volume of 186,157 shares, compared to its average volume of 121,109. The company’s fifty day moving average price is $0.77 and its 200 day moving average price is $0.79. REE Automotive has a twelve month low of $0.53 and a twelve month high of $9.92. The stock has a market capitalization of $16.45 million, a P/E ratio of -0.10 and a beta of 2.74.

REE Automotive Company Profile

REE Automotive Ltd. (NASDAQ:REE) is an Israel-based technology company specializing in the design and engineering of fully modular electric vehicle (EV) platforms. Founded in 2011 as a research initiative at the Technion – Israel Institute of Technology, REE Automotive has developed its core offering—the REEcorner—which integrates steering, braking, suspension and powertrain components into a compact unit housed within the wheel arch. This architecture enables manufacturers and fleet operators to pair a flat “skateboard” chassis with a variety of bespoke vehicle bodies, streamlining development cycles and reducing production complexity.

At the heart of REE’s product portfolio is the REEboard platform, a highly scalable EV architecture designed for commercial applications such as last-mile delivery vans, urban shuttles and light-duty trucks.