M&G Plc Has $20.72 Million Stock Position in REE Automotive Ltd. (NASDAQ:REE)

M&G Plc increased its stake in shares of REE Automotive Ltd. (NASDAQ:REE) by 69.4% during the third quarter, HoldingsChannel reports. The fund owned 2,960,017 shares of the company’s stock after buying an additional 1,213,003 shares during the period. M&G Plc owned about 0.28% of REE Automotive worth $20,720,000 as of its most recent SEC filing.

REE Automotive Stock Performance

Shares of REE stock opened at $7.31 on Friday. REE Automotive Ltd. has a 12 month low of $2.91 and a 12 month high of $8.75. The company’s fifty day simple moving average is $6.24 and its 200-day simple moving average is $4.82. The firm has a market cap of $76.81 million, a PE ratio of -0.82 and a beta of 3.04. The company has a quick ratio of 2.15, a current ratio of 2.21 and a debt-to-equity ratio of 0.06.

REE Automotive (NASDAQ:REE) last issued its quarterly earnings results on Thursday, September 26th. The company reported ($1.19) EPS for the quarter, topping the consensus estimate of ($1.76) by $0.57. REE Automotive had a negative net margin of 6,265.21% and a negative return on equity of 119.91%. Equities research analysts expect that REE Automotive Ltd. will post -4.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of REE Automotive in a research report on Friday, September 27th.

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.