REE Automotive (REE) Scheduled to Post Earnings on Tuesday

REE Automotive (NASDAQ:REE – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, May 23rd. Individual that wish to register for the company’s earnings conference call can do so using this link.

REE Automotive (NASDAQ:REE – Get Rating) last posted its earnings results on Thursday, March 16th. The company reported ($0.09) earnings per share for the quarter.

REE Automotive Trading Up 1.3 %

REE stock opened at $0.38 on Friday. The business’s 50-day moving average price is $0.33 and its two-hundred day moving average price is $0.43. The firm has a market cap of $124.44 million, a PE ratio of -1.03 and a beta of 1.69. REE Automotive has a 1-year low of $0.27 and a 1-year high of $1.80.

Institutional Trading of REE Automotive

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP raised its holdings in REE Automotive by 1,467.3% during the first quarter. Engineers Gate Manager LP now owns 208,566 shares of the company’s stock worth $396,000 after acquiring an additional 195,259 shares in the last quarter. UBS Group AG bought a new stake in REE Automotive during the third quarter worth about $277,000. Balyasny Asset Management LLC bought a new stake in REE Automotive during the third quarter worth about $216,000. Charles Schwab Investment Advisory Inc. raised its holdings in REE Automotive by 137.6% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 50,250 shares of the company’s stock worth $95,000 after acquiring an additional 29,100 shares in the last quarter. Finally, State Street Corp bought a new stake in REE Automotive during the third quarter worth about $90,000. 23.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald lowered 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 report on Thursday, March 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, REE Automotive presently has a consensus rating of “Moderate Buy” and an average price target of $3.63.

REE Automotive Company Profile

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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.