REE Automotive (NASDAQ:REE) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of REE Automotive (NASDAQ:REE) from a sell rating to a hold rating in a report published on Saturday.

REE has been the topic of several other research reports. Roth Capital set a $1.00 price target on shares of REE Automotive in a research report on Friday, May 16th. HC Wainwright lowered shares of REE Automotive from a “buy” rating to a “neutral” rating in a research report on Friday, May 16th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of REE Automotive in a research report on Friday, May 16th.

REE Automotive Stock Performance

NASDAQ REE opened at $0.66 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.20 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $9.22 million, a price-to-earnings ratio of -0.09 and a beta of 2.66. The firm’s 50 day simple moving average is $1.30 and its 200 day simple moving average is $4.63. REE Automotive has a 1 year low of $0.53 and a 1 year high of $11.72.

Institutional Trading of REE Automotive

A number of hedge funds have recently added to or reduced their stakes in REE. Goldman Sachs Group Inc. acquired a new stake in REE Automotive in the first quarter valued at approximately $48,000. XTX Topco Ltd acquired a new stake in REE Automotive in the first quarter valued at approximately $79,000. Patriot Financial Group Insurance Agency LLC boosted its position in REE Automotive by 110.6% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 38,083 shares of the company’s stock valued at $101,000 after buying an additional 20,000 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its position in REE Automotive by 41.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 73,162 shares of the company’s stock valued at $195,000 after buying an additional 21,424 shares in the last quarter. Finally, MYDA Advisors LLC acquired a new stake in REE Automotive in the fourth quarter valued at approximately $318,000. 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.