REE Automotive (NASDAQ:REE) Posts Quarterly Earnings Results, Misses Estimates By $0.27 EPS

REE Automotive (NASDAQ:REE) issued its earnings results on Tuesday. The company reported ($1.24) earnings per share (EPS) 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 Stock Up 1.4 %

Shares of NASDAQ REE opened at $10.98 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.21 and a quick ratio of 2.15. The stock has a market capitalization of $115.40 million, a P/E ratio of -1.23 and a beta of 3.03. The company has a 50-day moving average price of $7.80 and a 200-day moving average price of $5.52. REE Automotive has a 1 year low of $2.91 and a 1 year high of $11.72.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of REE Automotive in a 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.