In yesterday’s Wall Street session, REE Automotive Ltd. (NASDAQ:REE) shares traded at $0.40, up 5.40% from the previous session.
As of this writing, 2 analysts cover REE Automotive Ltd. (NASDAQ:REE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $1.50 and a low of $1.50, we find $1.50. Given the previous closing price of $0.38, this indicates a potential upside of 294.74 percent. REE stock price is now -10.44% away from the 50-day moving average and -53.08% away from the 200-day moving average. The market capitalization of the company currently stands at $129.27M.
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There are 1 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $1.50 as their price target over the next twelve months.
On March 25, 2022, Wells Fargo recently initiated its ‘Underweight’ rating on the stock quoting a target price of $1, while ‘Cantor Fitzgerald’ rates the stock as ‘Overweight’.
A total of 17.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in REE stock. A new stake in REE Automotive Ltd. shares was purchased by SONIC GP LLC during the first quarter worth $1,568,000. Y.D. MORE INVESTMENTS LTD invested $600,000 in shares of REE during the first quarter. In the first quarter, NORDWAND ADVISORS, LLC acquired a new stake in REE Automotive Ltd. valued at approximately $72,000. BLEAKLEY FINANCIAL GROUP, LLC acquired a new stake in REE for approximately $6,000. VIRTU FINANCIAL LLC purchased a new stake in REE valued at around $6,000 in the second quarter. In total, there are 65 active investors with 23.40% ownership of the company’s stock.
Thursday morning saw REE Automotive Ltd. (NASDAQ: REE) opened at $0.4100. During the past 12 months, REE Automotive Ltd. has had a low of $0.29 and a high of $2.58. The fifty day moving average price for REE is $0.4467 and a two-hundred day moving average price translates $0.8525 for the stock.
The latest earnings results from REE Automotive Ltd. (NASDAQ: REE) was released for Sep, 2022. According to the Recreational Vehicles Company, earnings per share came in at -$0.09, beating analysts’ expectations of -$0.1 by 0.01. This compares to -$1.57 EPS in the same period last year. For the current quarter, analysts expect REE to generate $950k in revenue.
REE Automotive Ltd.(REE) Company Profile
REE Automotive Ltd. operates in the e-mobility business. The company develops REEcorner technology, which integrates vehicle drive components, including steering, braking, suspension, powertrain, and control into the arch of the wheel. The company also develops REEboard, a flat and modular EV chassis. The company is headquartered in Herzliya, Israel.
