REE Automotive (NASDAQ:REE) Announces Quarterly Earnings Results

REE Automotive (NASDAQ:REE) announced its quarterly earnings results on Saturday. The company reported ($0.46) EPS for the quarter, FiscalAI reports. The company had revenue of $0.56 million for the quarter.

REE Automotive Price Performance

NASDAQ:REE traded down $0.02 during trading hours on Friday, reaching $0.44. 16,583 shares of the company were exchanged, compared to its average volume of 50,720. The firm has a market cap of $9.85 million, a price-to-earnings ratio of -0.08 and a beta of 2.41. REE Automotive has a 52-week low of $0.40 and a 52-week high of $1.76. The stock has a 50 day simple moving average of $0.57 and a 200 day simple moving average of $0.68.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of REE Automotive from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On REE Automotive

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new position in REE Automotive during the 1st quarter valued at $48,000. Potomac Capital Management Inc. bought a new position in REE Automotive during the 4th quarter valued at $300,000. Millennium Management LLC boosted its stake in REE Automotive by 9.0% during the 4th quarter. Millennium Management LLC now owns 505,662 shares of the company’s stock valued at $371,000 after acquiring an additional 41,763 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in REE Automotive by 242.4% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 52,900 shares of the company’s stock valued at $32,000 after acquiring an additional 37,450 shares during the last quarter. 12.74% of the stock is owned by institutional investors and hedge funds.

REE Automotive Company Profile

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.