REE Automotive (REE) to Release Earnings on Wednesday

REE Automotive (NASDAQ:REE) is expected to release its results before the market opens on Wednesday, May 13th. Analysts expect REE Automotive to post earnings of ($0.28) per share and revenue of $1.00 million for the quarter.

REE Automotive Price Performance

REE stock opened at $0.44 on Thursday. REE Automotive has a 1-year low of $0.43 and a 1-year high of $3.61. The firm has a fifty day moving average price of $0.59 and a two-hundred day moving average price of $0.72. The firm has a market cap of $9.83 million, a price-to-earnings ratio of -0.08 and a beta of 2.41.

Institutional Trading of REE Automotive

An institutional investor recently bought a new position in REE Automotive stock. Goldman Sachs Group Inc. purchased a new position in REE Automotive Ltd. (NASDAQ:REE) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter. Institutional investors own 12.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded REE Automotive from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, REE Automotive has an average rating of “Hold” and a consensus price target of $1.00.

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.