REE Automotive Ltd. (NASDAQ:REE) Short Interest Update

REE Automotive Ltd. (NASDAQ:REE) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 87,700 shares, a decrease of 33.5% from the March 31st total of 131,900 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily volume of 38,300 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $15.00 price objective on shares of REE Automotive in a report on Thursday, March 28th.

REE Automotive Stock Performance

Shares of REE traded down $0.22 during trading hours on Friday, reaching $4.10. 4,019 shares of the company traded hands, compared to its average volume of 33,601. The stock has a market capitalization of $43.09 million, a P/E ratio of -0.36 and a beta of 2.99. The company has a quick ratio of 2.64, a current ratio of 2.66 and a debt-to-equity ratio of 0.06. REE Automotive has a 12-month low of $2.30 and a 12-month high of $13.77. The business has a fifty day moving average price of $5.60 and a 200-day moving average price of $5.08.

REE Automotive (NASDAQ:REE) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($3.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.32) by ($1.12). The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.15 million. Equities analysts anticipate that REE Automotive will post -6.54 EPS for the current fiscal year.

Institutional Investors Weigh In On REE Automotive

A hedge fund recently raised its stake in REE Automotive stock. Nordwand Advisors LLC raised its holdings in REE Automotive Ltd. (NASDAQ:REE) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 183,580 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. Nordwand Advisors LLC owned 1.67% of REE Automotive worth $27,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 12.74% of the company’s stock.

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.