HC Wainwright Reaffirms “Buy” Rating for REE Automotive (NASDAQ:REE)

HC Wainwright reiterated their buy rating on shares of REE Automotive (NASDAQ:REE) in a report released on Friday morning, Benzinga reports. HC Wainwright currently has a $15.00 price objective on the stock.

REE Automotive Trading Down 6.4 %

REE Automotive stock opened at $7.06 on Friday. The stock has a market capitalization of $74.20 million, a PE ratio of -0.65 and a beta of 2.97. REE Automotive has a 12-month low of $2.30 and a 12-month high of $8.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.58 and a quick ratio of 2.53. The firm has a 50 day simple moving average of $4.11 and a 200-day simple moving average of $4.33.

Institutional Trading of REE Automotive

A hedge fund recently bought a new stake in REE Automotive stock. M&G Plc acquired a new position in REE Automotive Ltd. (NASDAQ:REE) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,747,014 shares of the company’s stock, valued at approximately $10,482,000. M&G Plc owned 16.62% of REE Automotive as of its most recent filing with the SEC. 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.