REE Automotive Ltd. (NASDAQ:REE – Get Rating) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.10.
Separately, Cantor Fitzgerald cut shares of REE Automotive from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $2.00 to $1.00 in a research note on Thursday.
REE Automotive Stock Down 6.1 %
Shares of REE opened at $0.36 on Thursday. REE Automotive has a fifty-two week low of $0.29 and a fifty-two week high of $2.58. The firm’s 50 day moving average price is $0.45 and its 200 day moving average price is $0.59. The company has a market cap of $115.66 million, a P/E ratio of -0.81 and a beta of 1.77.
Hedge Funds Weigh In On REE Automotive
REE Automotive Company Profile
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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