REE Automotive Ltd. (NASDAQ:REE – Get Rating) – Equities researchers at Cantor Fitzgerald raised their FY2022 earnings per share (EPS) estimates for shares of REE Automotive in a research report issued on Wednesday, May 18th. Cantor Fitzgerald analyst A. Sheppard now expects that the company will post earnings of ($0.31) per share for the year, up from their prior forecast of ($0.43).
Several other analysts also recently issued reports on REE. DA Davidson cut their price target on REE Automotive from $13.00 to $10.00 in a report on Wednesday, May 18th. Zacks Investment Research raised REE Automotive from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Morgan Stanley cut their price target 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 assumed coverage on REE Automotive in a report on Friday, March 25th. They issued an “underweight” rating and a $1.00 price target on the stock. Finally, BTIG Research cut their price target on REE Automotive from $10.00 to $6.00 in a report on Wednesday, May 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, REE Automotive currently has an average rating of “Hold” and a consensus target price of $6.93.
REE Automotive (NASDAQ:REE – Get Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02.
Hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in shares of REE Automotive during the third quarter valued at $28,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of REE Automotive during the fourth quarter valued at $38,000. Cable Hill Partners LLC purchased a new position in shares of REE Automotive during the fourth quarter valued at $56,000. Morgan Stanley purchased a new position in shares of REE Automotive during the third quarter valued at $46,000. Finally, National Bank of Canada FI purchased a new position in REE Automotive in the fourth quarter valued at about $64,000. Institutional investors and hedge funds own 23.72% of the company’s stock.
About REE Automotive (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.
- Get a free copy of the StockNews.com research report on REE Automotive (REE)
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