REE Automotive (NASDAQ:REE) Given Buy Rating at HC Wainwright

REE Automotive (NASDAQ:REE)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 252.11% from the stock’s previous close.

REE Automotive Price Performance

NASDAQ REE opened at $4.26 on Wednesday. REE Automotive has a twelve month low of $2.91 and a twelve month high of $11.72. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.15 and a current ratio of 3.21. The stock has a market capitalization of $59.24 million, a PE ratio of -0.47 and a beta of 2.94. The stock has a 50-day simple moving average of $7.72 and a 200 day simple moving average of $7.47.

REE Automotive (NASDAQ:REE) last issued its quarterly earnings results on Tuesday, December 17th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.27). Research analysts anticipate that REE Automotive will post -5.06 EPS for the current year.

Institutional Investors Weigh In On REE Automotive

Several large investors have recently modified their holdings of REE. Virtu Financial LLC bought a new stake in shares of REE Automotive in the 3rd quarter valued at approximately $138,000. Patriot Financial Group Insurance Agency LLC bought a new stake in REE Automotive during the 4th quarter worth approximately $160,000. Fulton Breakefield Broenniman LLC bought a new stake in REE Automotive during the 4th quarter worth approximately $457,000. Cruiser Capital Advisors LLC grew its position in REE Automotive by 21.6% during the 4th quarter. Cruiser Capital Advisors LLC now owns 152,557 shares of the company’s stock worth $1,347,000 after acquiring an additional 27,057 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in REE Automotive by 5.8% during the 4th quarter. Renaissance Technologies LLC now owns 69,577 shares of the company’s stock worth $614,000 after buying an additional 3,800 shares in the last quarter. 12.74% of the stock is currently owned by institutional investors.

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.