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Wall Street analysts predict that REE Automotive Ltd. (NASDAQ:REE – Get Rating) will announce earnings per share of ($0.15) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for REE Automotive’s earnings. The firm is expected to report its next earnings results on Monday, January 1st.
On average, analysts expect that REE Automotive will report full year earnings of ($0.51) per share for the current financial year, with EPS estimates ranging from ($0.58) to ($0.43). For the next fiscal year, analysts expect that the firm will post earnings of ($0.68) per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow REE Automotive.
REE Automotive (NASDAQ:REE – Get Rating) last announced its quarterly earnings data on Thursday, March 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.02.
Several brokerages have weighed in on REE. Zacks Investment Research raised REE Automotive from a “sell” rating to a “hold” rating in a research report on Thursday. Morgan Stanley lowered their price objective on REE Automotive from $5.00 to $2.00 and set an “underweight” rating on the stock in a report on Monday, March 14th. Wells Fargo & Company began coverage on REE Automotive in a report on Friday, March 25th. They set an “underweight” rating and a $1.00 price objective on the stock. Finally, Cantor Fitzgerald began coverage on REE Automotive in a report on Friday, January 14th. They set an “overweight” rating and a $9.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.75.
Several institutional investors have recently bought and sold shares of the stock. Luxor Capital Group LP acquired a new stake in REE Automotive during the 3rd quarter valued at $9,988,000. National Bank of Canada FI acquired a new stake in REE Automotive during the 4th quarter valued at $64,000. IPG Investment Advisors LLC acquired a new stake in REE Automotive during the 3rd quarter valued at $102,000. First National Trust Co acquired a new stake in REE Automotive during the 3rd quarter valued at $45,000. Finally, Meitav Dash Investments Ltd. acquired a new stake in REE Automotive during the 3rd quarter valued at $1,308,000. Institutional investors and hedge funds own 14.95% of the company’s stock.
REE stock traded down $0.05 during mid-day trading on Friday, hitting $1.96. The stock had a trading volume of 663,095 shares, compared to its average volume of 2,049,045. REE Automotive has a 1-year low of $1.75 and a 1-year high of $11.66. The business’s fifty day moving average price is $2.57.
REE Automotive Company Profile (Get Rating)
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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