REE Automotive (NASDAQ:REE) Stock Price Down 3.9% – Time to Sell?

REE Automotive Ltd. (NASDAQ:REE)’s share price fell 3.9% during trading on Monday . The company traded as low as $7.60 and last traded at $8.11. 70,635 shares were traded during trading, an increase of 27% from the average session volume of 55,444 shares. The stock had previously closed at $8.44.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of REE Automotive in a research note on Monday, December 23rd.

REE Automotive Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.15 and a current ratio of 2.21. The stock’s fifty day simple moving average is $8.45 and its two-hundred day simple moving average is $6.25. The stock has a market capitalization of $88.48 million, a P/E ratio of -0.94 and a beta of 2.92.

REE Automotive (NASDAQ:REE) last issued its quarterly earnings data on Tuesday, December 17th. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.27). REE Automotive had a negative return on equity of 119.91% and a negative net margin of 6,265.21%. As a group, research analysts expect that REE Automotive Ltd. will post -4.34 EPS for the current fiscal year.

Institutional Investors Weigh In On REE Automotive

An institutional investor recently raised its position in REE Automotive stock. M&G PLC grew its position in shares of REE Automotive Ltd. (NASDAQ:REE) by 69.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,960,017 shares of the company’s stock after purchasing an additional 1,213,003 shares during the quarter. M&G PLC owned about 28.17% of REE Automotive worth $20,720,000 as of its most recent SEC filing. Institutional investors own 12.74% of the company’s stock.

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.