REE Automotive Ltd. (NASDAQ:REE) Short Interest Update

REE Automotive Ltd. (NASDAQ:REE) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 307,051 shares, a decline of 23.3% from the December 15th total of 400,462 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average trading volume of 144,178 shares, the days-to-cover ratio is currently 2.1 days. Based on an average trading volume of 144,178 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings initiated coverage on REE Automotive in a research report on Monday, January 5th. They issued a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.17.

Institutional Trading of REE Automotive

A hedge fund recently bought a new stake in REE Automotive stock. Goldman Sachs Group Inc. purchased a new position in shares of REE Automotive Ltd. (NASDAQ:REE) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,232 shares of the company’s stock, valued at approximately $48,000. Goldman Sachs Group Inc. owned 0.13% of REE Automotive as of its most recent filing with the Securities and Exchange Commission (SEC). 12.74% of the stock is currently owned by hedge funds and other institutional investors.

REE Automotive Trading Down 2.3%

NASDAQ:REE opened at $0.74 on Tuesday. The business’s fifty day moving average price is $0.77 and its 200 day moving average price is $0.79. The firm has a market capitalization of $16.45 million, a price-to-earnings ratio of -0.10 and a beta of 2.74. REE Automotive has a 1-year low of $0.53 and a 1-year high of $9.92.

About REE Automotive

REE Automotive Ltd. (NASDAQ:REE) is an Israel-based technology company specializing in the design and engineering of fully modular electric vehicle (EV) platforms. Founded in 2011 as a research initiative at the Technion – Israel Institute of Technology, REE Automotive has developed its core offering—the REEcorner—which integrates steering, braking, suspension and powertrain components into a compact unit housed within the wheel arch. This architecture enables manufacturers and fleet operators to pair a flat “skateboard” chassis with a variety of bespoke vehicle bodies, streamlining development cycles and reducing production complexity.

At the heart of REE’s product portfolio is the REEboard platform, a highly scalable EV architecture designed for commercial applications such as last-mile delivery vans, urban shuttles and light-duty trucks.