Short Interest in REE Automotive Ltd. (NASDAQ:REE) Expands By 25.0%

REE Automotive Ltd. (NASDAQ:REE) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 383,866 shares, an increase of 25.0% from the December 31st total of 307,051 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily volume of 107,050 shares, the short-interest ratio is currently 3.6 days. Based on an average daily volume of 107,050 shares, the short-interest ratio is currently 3.6 days. Currently, 1.7% of the company’s shares are short sold.

REE Automotive Trading Down 2.7%

Shares of REE traded down $0.02 during mid-day trading on Wednesday, hitting $0.59. The company’s stock had a trading volume of 178,639 shares, compared to its average volume of 114,304. The company’s 50-day moving average is $0.74 and its 200-day moving average is $0.79. REE Automotive has a 52-week low of $0.53 and a 52-week high of $8.39. The firm has a market capitalization of $13.11 million, a price-to-earnings ratio of -0.08 and a beta of 2.73.

Analyst Ratings Changes

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

Institutional Investors Weigh In On REE Automotive

An institutional investor recently bought a new position in REE Automotive stock. Goldman Sachs Group Inc. purchased a new position in REE Automotive Ltd. (NASDAQ:REE) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,232 shares of the company’s stock, valued at approximately $48,000. Goldman Sachs Group Inc. owned 0.13% of REE Automotive at the end of the most recent quarter. 12.74% of the stock is owned by hedge funds and other institutional investors.

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.