Roth Capital Downgrades REE Automotive (NASDAQ:REE) to Neutral

REE Automotive (NASDAQ:REE) was downgraded by investment analysts at Roth Capital from a “buy” rating to a “neutral” rating in a report released on Friday, MarketBeat.com reports.

A number of other equities research analysts also recently issued reports on the stock. Alliance Global Partners started coverage on shares of REE Automotive in a research report on Friday, April 11th. They set a “buy” rating and a $8.50 price objective for the company. HC Wainwright downgraded shares of REE Automotive from a “buy” rating to a “neutral” rating in a report on Friday.

REE Automotive Price Performance

Shares of REE opened at $0.85 on Friday. REE Automotive has a 1-year low of $0.81 and a 1-year high of $11.72. The firm has a fifty day simple moving average of $3.14 and a two-hundred day simple moving average of $6.42. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.17. The firm has a market cap of $11.82 million, a PE ratio of -0.09 and a beta of 3.15.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of REE. Goldman Sachs Group Inc. bought a new position in REE Automotive in the 1st quarter worth $48,000. XTX Topco Ltd bought a new position in REE Automotive in the 1st quarter worth $79,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in REE Automotive by 110.6% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 38,083 shares of the company’s stock worth $101,000 after buying an additional 20,000 shares during the period. Fulton Breakefield Broenniman LLC boosted its holdings in REE Automotive by 41.4% in the 1st quarter. Fulton Breakefield Broenniman LLC now owns 73,162 shares of the company’s stock worth $195,000 after buying an additional 21,424 shares during the period. Finally, MYDA Advisors LLC bought a new position in REE Automotive in the 4th quarter worth $318,000. Institutional investors own 12.74% of the company’s stock.

REE Automotive Company Profile

REE Automotive Ltd. operates as an automotive technology company in France, the United Kingdom, the United States, and internationally. The company offers REEcorner, a compact module that integrates critical vehicle drive components comprising as steering, braking, suspension, powertrain, and control between the chassis and the wheel; and REEplatform that allows for the addition of a modular and customizable top hat/cabin design based on customer specifications, without requiring modification to the platform.