REE Automotive (NASDAQ:REE) Issues Earnings Results, Misses Expectations By $0.27 EPS

REE Automotive (NASDAQ:REE) released its earnings results on Tuesday. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.27), Zacks reports. REE Automotive had a negative net margin of 6,265.21% and a negative return on equity of 119.91%.

REE Automotive Price Performance

REE opened at $9.94 on Thursday. The stock has a market cap of $104.45 million, a P/E ratio of -1.11 and a beta of 3.03. REE Automotive has a 12 month low of $2.91 and a 12 month high of $11.72. The company has a quick ratio of 2.15, a current ratio of 2.21 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $7.92 and a 200 day simple moving average of $5.58.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $15.00 price target 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.