REE Automotive (REE) – Research Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of REE Automotive (NASDAQ: REE) in the last few weeks:

• 6/1/2022 – REE Automotive was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK. “
• 5/31/2022 – REE Automotive was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $1.75 price target on the stock. According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK. “
• 5/25/2022 – REE Automotive was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK. “
• 5/24/2022 – REE Automotive was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $1.75 price target on the stock. According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK. “
• 5/18/2022 – REE Automotive had its price target lowered by analysts at DA Davidson from $13.00 to $10.00.
• 5/18/2022 – REE Automotive had its price target lowered by analysts at BTIG Research from $10.00 to $6.00.
• 5/12/2022 – REE Automotive was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK. “
• 5/5/2022 – REE Automotive was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK. “
• 4/7/2022 – REE Automotive was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK. “

NASDAQ REE opened at $1.48 on Monday. The stock’s fifty day moving average is $1.83 and its two-hundred day moving average is $3.09. The firm has a market capitalization of $473.68 million, a P/E ratio of -0.75 and a beta of 1.20. REE Automotive Ltd. has a fifty-two week low of $1.25 and a fifty-two week high of $11.66.

REE Automotive (NASDAQ:REE – Get Rating) last posted its quarterly earnings data on Tuesday, May 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.05. On average, equities research analysts predict that REE Automotive Ltd. will post -0.44 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC acquired a new position in shares of REE Automotive during the 3rd quarter worth about $28,000. UBS Group AG acquired a new stake in REE Automotive during the 1st quarter worth approximately $36,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in REE Automotive during the 4th quarter worth approximately $38,000. Morgan Stanley acquired a new stake in REE Automotive during the 3rd quarter worth approximately $46,000. Finally, Cable Hill Partners LLC acquired a new stake in REE Automotive during the 4th quarter worth approximately $56,000. Institutional investors own 23.72{b930f8fc61da1f29cba34a8cbe30670691f63878f9c98a2d7d5d6527da1fb8f3} of the company’s stock.

REE Automotive Ltd. operates in the e-mobility business. The company develops REEcorner technology, which integrates vehicle drive components, including steering, braking, suspension, powertrain, and control into the arch of the wheel. The company also develops REEboard, a flat and modular EV chassis.

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