Those With A Risk-Tolerant Portfolio Can Expect A Bright Future From REE Automotive Ltd. (NASDAQ: REE) – Marketing Sentinel
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Those With A Risk-Tolerant Portfolio Can Expect A Bright Future From REE Automotive Ltd. (NASDAQ: REE)

During the last session, REE Automotive Ltd. (NASDAQ:REE)’s traded shares were 1.13 million. At the end of the trading day, the stock’s price was $1.23, reflecting an intraday gain of 2.50% or $0.03. The 52-week high for the REE share is $10.92, that puts it down -787.8 from that peak though still a striking 14.63% gain since the share price plummeted to a 52-week low of $1.05. The company’s market capitalization is $382.91M, and the average intraday trading volume over the past 10 days was 1.18 million shares, and the average trade volume was 1.16 million shares over the past three months.

REE Automotive Ltd. (REE) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.50. REE has a Sell rating from 2 analyst(s) out of 6 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.11.

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REE Automotive Ltd. (NASDAQ:REE) trade information

REE Automotive Ltd. (REE) registered a 2.50% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.50% in intraday trading to $1.23 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is -1.60%, and it has moved by 5.13% in 30 days. Based on these gigs, the overall price performance for the year is -88.12%. The short interest in REE Automotive Ltd. (NASDAQ:REE) is 1.88 million shares and it means that shorts have 1.47 day(s) to cover.

The consensus price target of analysts on Wall Street is $5.25, which implies an increase of 76.57% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $10.00 respectively. As a result, REE is trading at a discount of -713.01% off the target high and 18.7% off the low.

REE Automotive Ltd. (REE) estimates and forecasts

Statistics show that REE Automotive Ltd. has underperformed its competitors in share price, compared to the industry in which it operates. REE Automotive Ltd. (REE) shares have gone down -67.80% during the last six months, with a year-to-date growth rate less than the industry average at -60.71% against -0.40. In the rating firms’ projections, revenue will increase 116,233.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $250k as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $2.02 million by the end of Sep 2022.

While earnings are projected to return -636.10% in 2022.

REE Dividends

REE Automotive Ltd. is due to release its next quarterly earnings between March 28 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

REE Automotive Ltd. (NASDAQ:REE)’s Major holders

REE Automotive Ltd. insiders own 20.82% of total outstanding shares while institutional holders control 20.32%, with the float percentage being 25.66%. Phoenix Holdings Ltd. is the largest shareholder of the company, while 57 institutions own stock in it. As of Mar 30, 2022, the company held over 26.67 million shares (or 11.27% of all shares), a total value of $50.68 million in shares.

The next largest institutional holding, with 13.98 million shares, is of M&G Investment Management Ltd’s that is approximately 5.91% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $26.57 million.

Also, the Mutual Funds coming in first place with the largest holdings of REE Automotive Ltd. (REE) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and ARK ETF Tr-ARK Israel Innovative Technology ETF. Data provided on Jun 29, 2022 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 9.17 million shares. This amounts to just over 3.87 percent of the company’s overall shares, with a $10.64 million market value. The same data shows that the other fund manager holds slightly less at 1.07 million, or about 0.45% of the stock, which is worth about $1.24 million.

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