REE Automotive (REE) Projected to Post Quarterly Earnings on Wednesday

REE Automotive (NASDAQ:REE) is expected to be posting its results before the market opens on Wednesday, May 13th. Analysts expect REE Automotive to post earnings of ($0.28) per share and revenue of $1.00 million for the quarter.

REE Automotive Stock Down 7.8%

Shares of REE opened at $0.43 on Tuesday. The firm has a 50-day moving average price of $0.58 and a 200 day moving average price of $0.70. The firm has a market capitalization of $9.59 million, a PE ratio of -0.08 and a beta of 2.41. REE Automotive has a 52-week low of $0.42 and a 52-week high of $3.61.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of REE Automotive from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, REE Automotive currently has an average rating of “Hold” and an average price target of $1.00.

Institutional Trading of REE Automotive

A hedge fund recently raised its stake in REE Automotive stock. Millennium Management LLC lifted its stake in REE Automotive Ltd. (NASDAQ:REE) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505,662 shares of the company’s stock after purchasing an additional 41,763 shares during the quarter. Millennium Management LLC owned 2.27% of REE Automotive worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 12.74% of the stock is currently owned by hedge funds and other institutional investors.

About REE Automotive

REE Automotive Ltd. (NASDAQ:REE) is an Israel-based technology company specializing in the design and engineering of fully modular electric vehicle (EV) platforms. Founded in 2011 as a research initiative at the Technion – Israel Institute of Technology, REE Automotive has developed its core offering—the REEcorner—which integrates steering, braking, suspension and powertrain components into a compact unit housed within the wheel arch. This architecture enables manufacturers and fleet operators to pair a flat “skateboard” chassis with a variety of bespoke vehicle bodies, streamlining development cycles and reducing production complexity.

At the heart of REE’s product portfolio is the REEboard platform, a highly scalable EV architecture designed for commercial applications such as last-mile delivery vans, urban shuttles and light-duty trucks.