Zacks Investment Research Lowers REE Automotive (NASDAQ:REE) to Hold

REE Automotive (NASDAQ:REE – Get Rating) was downgraded by Zacks Investment Investigate from a “buy” ranking to a “hold” rating in a study take note issued to buyers on Wednesday, Zacks.com stories.

According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., previously regarded as 10X Cash Enterprise Acquisition Corp, is primarily based in NEW YORK. “

Other exploration analysts have also issued investigation reports about the inventory. Morgan Stanley lowered their value goal on shares of REE Automotive from $5.00 to $2.00 and set an “underweight” ranking on the inventory in a investigate observe on Monday, March 14th. BTIG Investigate decreased their price tag goal on shares of REE Automotive from $10.00 to $6.00 in a analysis notice on Wednesday, May perhaps 18th. Wells Fargo & Firm initiated coverage on shares of REE Automotive in a report on Friday, March 25th. They issued an “underweight” score and a $1.00 selling price goal for the organization. Finally, DA Davidson reduce their value aim on shares of REE Automotive from $13.00 to $10.00 in a report on Wednesday, Might 18th. Two expenditure analysts have rated the inventory with a provide rating, one has assigned a hold score and three have offered a get ranking to the stock. According to data from MarketBeat.com, the stock currently has a consensus score of “Hold” and an normal goal cost of $6.39.

Shares of REE opened at $1.60 on Wednesday. REE Automotive has a 52 7 days minimal of $1.25 and a 52 week higher of $11.66. The firm has a marketplace cap of $512.08 million, a P/E ratio of -.81 and a beta of 1.19. The firm’s 50-day very simple transferring typical is $1.86 and its 200 day straightforward shifting common is $3.15.

REE Automotive (NASDAQ:REE – Get Ranking) last introduced its quarterly earnings effects on Thursday, March 3rd. The business documented ($.14) EPS for the quarter, beating analysts’ consensus estimates of ($.16) by $.02. Analysts anticipate that REE Automotive will post -.44 earnings for each share for the present-day yr.

Several institutional investors have just lately modified their holdings of REE. Wolverine Asset Management LLC purchased a new stake in shares of REE Automotive in the course of the 3rd quarter well worth close to $28,000. UBS Group AG purchased a new stake in shares of REE Automotive during the 1st quarter truly worth about $36,000. Harel Insurance policy Investments & Monetary Services Ltd. bought a new stake in shares of REE Automotive for the duration of the 4th quarter worthy of somewhere around $38,000. Morgan Stanley purchased a new stake in shares of REE Automotive for the duration of the 3rd quarter well worth around $46,000. Finally, Cable Hill Associates LLC acquired a new stake in shares of REE Automotive all through the 4th quarter really worth roughly $56,000. 23.72% of the stock is owned by institutional buyers.

REE Automotive Company Profile (Get Ranking)

REE Automotive Ltd. operates in the e-mobility organization. The enterprise develops REEcorner technology, which integrates motor vehicle drive parts, including steering, braking, suspension, powertrain, and control into the arch of the wheel. The corporation also develops REEboard, a flat and modular EV chassis.

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