REE Automotive (NASDAQ:REE) Stock Rating Reaffirmed by HC Wainwright

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 98.94% from the company’s current price.

REE Automotive Price Performance

Shares of NASDAQ:REE opened at $7.54 on Friday. The business’s fifty day moving average price is $4.05 and its two-hundred day moving average price is $4.33. The stock has a market cap of $79.25 million, a PE ratio of -0.70 and a beta of 2.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.53 and a current ratio of 2.58. REE Automotive has a one year low of $2.30 and a one year high of $8.43.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in REE Automotive stock. M&G Plc purchased a new position in REE Automotive Ltd. (NASDAQ:REE) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 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 as of its most recent filing with the Securities & Exchange Commission. 12.74% of the stock is owned by institutional investors and hedge funds.

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.