REE Automotive Ltd. (NASDAQ:REE)’s traded shares stood at 1.27 million during the last session. At the close of trading, the stock’s price was $0.38, to imply a decrease of -7.09% or -$0.03 in intraday trading. The REE share’s 52-week high remains $2.58, putting it -578.95% down since that peak but still an impressive 23.68% since price per share fell to its 52-week low of $0.29. The company has a valuation of $113.05M, with an average of 0.56 million shares in intraday trading volume over the past 10 days and average of 631.34K shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for REE Automotive Ltd. (REE), translating to a mean rating of 2.50. Of 2 analyst(s) looking at the stock, 0 analyst(s) give REE a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 1 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.11.
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REE Automotive Ltd. (NASDAQ:REE) trade information
After registering a -7.09% downside in the last session, REE Automotive Ltd. (REE) has traded red over the past five days. The stock hit a weekly high of 0.4700 this Thursday, 03/16/23, dropping -7.09% in its intraday price action. The 5-day price performance for the stock is -5.00%, and -22.45% over 30 days. With these gigs, the year-to-date price performance is -2.24%. Short interest in REE Automotive Ltd. (NASDAQ:REE) saw shorts transact 1.27 million shares and set a 1.42 days time to cover.
Analysts on Wall Street suggest a consensus price target of $1.50, implying an increase of 74.67% to the stock’s current value. The extremes give us $1.50 and $1.50 for target low and target high price respectively. As such, REE has been trading -294.74% off suggested target high and -294.74% from its likely low.
REE Automotive Ltd. (REE) estimates and forecasts
Looking at statistics comparing REE Automotive Ltd. share performance against respective industry, we note that the company has underperformed competitors. REE Automotive Ltd. (REE) shares are -67.52% down over the last 6 months, with its year-to-date growth rate lower than industry average at -64.29% against 16.50%. Revenue is forecast to shrink -22.20% this quarter before jumping 20.00% for the next one. The rating firms project that company’s revenue will grow 15,733.30% compared to the previous financial year.
Revenue forecast for the current quarter as set by 2 analysts is $950k. Meanwhile, for the quarter ending Mar 2023, a total of 3 analyst(s) estimate revenue growth to $730k.
REE Automotive Ltd. has its next earnings report out between March 28 and April 01. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. REE Automotive Ltd. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
REE Automotive Ltd. (NASDAQ:REE)’s Major holders
REE Automotive Ltd. insiders hold 17.32% of total outstanding shares, with institutional holders owning 23.98% of the shares at 29.00% float percentage. In total, 23.98% institutions holds shares in the company, led by Phoenix Holdings Ltd. As of Sep 29, 2022, the company held over 19.24 million shares (or 7.89% of shares), all amounting to roughly $13.11 million.
The next major institution holding the largest number of shares is M&G Investment Management Ltd with 15.49 million shares, or about 6.35% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $6.02 million.
We also have ETF Managers Tr-BlueStar TA-BIGI Tech Israel Technology ETF and Fidelity NASDAQ Composite Index Fund as the top two Mutual Funds with the largest holdings of the REE Automotive Ltd. (REE) shares. Going by data provided on Sep 29, 2022, ETF Managers Tr-BlueStar TA-BIGI Tech Israel Technology ETF holds roughly 0.29 million shares. This is just over 0.12% of the total shares, with a market valuation of $0.2 million. Data from the same date shows that the other fund manager holds a little less at 0.12 million, or 0.05% of the shares, all valued at about 65871.0.