REE Automotive (NASDAQ:REE) Upgraded to Hold at Zacks Investment Research

REE Automotive (NASDAQ:REEGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK. “

Several other research analysts have also recently issued reports on REE. Cantor Fitzgerald assumed coverage on REE Automotive in a research report on Friday, January 14th. They issued an “overweight” rating and a $9.00 target price on the stock. Morgan Stanley dropped their target price on REE Automotive from $5.00 to $2.00 and set an “underweight” rating on the stock in a research report on Monday, March 14th. Finally, Wells Fargo & Company assumed coverage on REE Automotive in a research report on Friday, March 25th. They issued an “underweight” rating and a $1.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, REE Automotive has an average rating of “Hold” and an average price target of $8.75.

REE Automotive stock opened at $1.29 on Thursday. REE Automotive has a one year low of $1.25 and a one year high of $11.66. The business’s fifty day moving average is $1.99 and its 200 day moving average is $3.37.

REE Automotive (NASDAQ:REEGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. As a group, equities analysts anticipate that REE Automotive will post -0.5 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC bought a new position in shares of REE Automotive in the third quarter worth about $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of REE Automotive in the fourth quarter worth about $38,000. Cable Hill Partners LLC bought a new position in shares of REE Automotive in the fourth quarter worth about $56,000. Morgan Stanley bought a new stake in REE Automotive during the 3rd quarter valued at approximately $46,000. Finally, National Bank of Canada FI bought a new stake in REE Automotive during the 4th quarter valued at approximately $64,000. 23.72% of the stock is currently owned by hedge funds and other institutional investors.

REE Automotive Company Profile (Get Rating)

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

Featured Articles

Get a free copy of the Zacks research report on REE Automotive (REE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for REE Automotive (NASDAQ:REE)

Receive News & Ratings for REE Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for REE Automotive and related companies with MarketBeat.com's FREE daily email newsletter.