REE Automotive Ltd. [REE] Revenue clocked in at $0.18 million, down -61.84% YTD: What’s Next?



REE Automotive Ltd. [NASDAQ: REE] price surged by 6.18 percent to reach at $0.23. The company report on November 16, 2021 that REE Automotive Announces Third Quarter 2021 Financial Results.

Expedited execution on previously stated commercialization targets.

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Successfully completed customer validation tests on non-public roads.

A sum of 826939 shares traded at recent session while its average daily volume was at 1.49M shares. REE Automotive Ltd. shares reached a high of $3.96 and dropped to a low of $3.655 until finishing in the latest session at $3.95.

The one-year REE stock forecast points to a potential upside of 69.62. The average equity rating for REE stock is currently 1.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on REE Automotive Ltd. [REE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for REE shares is $13.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on REE stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for REE Automotive Ltd. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on September 14, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on August 18, 2021, representing the official price target for REE Automotive Ltd. stock. Previously, the target price had yet another raise to $15, while Cowen analysts kept a Outperform rating on REE stock.

The Average True Range (ATR) for REE Automotive Ltd. is set at 0.25, with the Price to Sales ratio for REE stock in the period of the last 12 months amounting to 6620.82. The Price to Book ratio for the last quarter was 4.39, with the Price to Cash per share for the same quarter was set at 0.99.

REE Stock Performance Analysis:

REE Automotive Ltd. [REE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.22. With this latest performance, REE shares dropped by -3.89% in over the last four-week period, additionally sinking by -60.26% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for REE stock in for the last two-week period is set at 47.09, with the RSI for the last a single of trading hit 51.82, and the three-weeks RSI is set at 43.30 for REE Automotive Ltd. [REE]. The present Moving Average for the last 50 days of trading for this stock 4.30, while it was recorded at 3.75 for the last single week of trading.

Insight into REE Automotive Ltd. Fundamentals:

Reflecting on the efficiency of the workforce at the company, REE Automotive Ltd. [REE] managed to generate an average of -$38,106 per employee.REE Automotive Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 27.00 and a Current Ratio set at 27.00.

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REE Automotive Ltd. [REE] Insider Position Details

Positions in REE Automotive Ltd. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 31 institutional holders increased their position in REE Automotive Ltd. [NASDAQ:REE] by around 24,638,980 shares. Additionally, 36 investors decreased positions by around 11,001,606 shares, while 3 investors held positions by with 8,359,176 shares. The mentioned changes placed institutional holdings at 27,281,410 shares, according to the latest SEC report filing. REE stock had 25 new institutional investments in for a total of 19,288,243 shares, while 30 institutional investors sold positions of 9,676,489 shares during the same period.



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