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

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $15.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 275.00% from the stock’s previous close.

REE Automotive Stock Performance

NASDAQ REE opened at $4.00 on Wednesday. The company has a fifty day simple moving average of $7.54 and a 200 day simple moving average of $7.42. REE Automotive has a 12-month low of $2.91 and a 12-month high of $11.72. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.17. The company has a market cap of $55.63 million, a P/E ratio of -0.44 and a beta of 2.94.

REE Automotive (NASDAQ:REE) last posted its quarterly earnings results on Tuesday, December 17th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.27). Sell-side analysts predict that REE Automotive will post -5.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On REE Automotive

Large investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC bought a new position in REE Automotive during the 4th quarter valued at $160,000. Virtu Financial LLC bought a new stake in shares of REE Automotive during the 3rd quarter worth $138,000. MYDA Advisors LLC bought a new stake in shares of REE Automotive during the 4th quarter worth $318,000. Fulton Breakefield Broenniman LLC bought a new stake in shares of REE Automotive during the 4th quarter worth $457,000. Finally, Renaissance Technologies LLC raised its stake in shares of REE Automotive by 5.8% during the 4th quarter. Renaissance Technologies LLC now owns 69,577 shares of the company’s stock worth $614,000 after purchasing an additional 3,800 shares during the period. 12.74% of the stock is currently owned by 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.