REE Automotive (NASDAQ:REE – Get Free Report)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 98.94% from the stock’s previous close.
REE Automotive Trading Up 18.2 %
Shares of NASDAQ:REE opened at $7.54 on Friday. The stock has a market capitalization of $79.25 million, a PE ratio of -0.70 and a beta of 2.97. REE Automotive has a 1 year low of $2.30 and a 1 year high of $8.43. The firm has a fifty day moving average price of $4.05 and a 200 day moving average price of $4.33. The company has a current ratio of 2.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.08.
Institutional Investors Weigh In On REE Automotive
A hedge fund recently bought a new stake in REE Automotive stock. M&G Plc acquired a new position in shares of REE Automotive Ltd. (NASDAQ:REE – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,747,014 shares of the company’s stock, valued at approximately $10,482,000. M&G Plc owned approximately 16.62% of REE Automotive at the end of the most recent quarter. Institutional investors own 12.74% of the company’s stock.
About REE Automotive
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.
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