Update from REE Automotive Ltd. (REE): A steady trajectory

The closing price of REE Automotive Ltd. (NASDAQ: REE) was $0.53 for the day, up 5.84% from the previous closing price of $0.50. In other words, the price has increased by $+0.0291 from its previous closing price. On the day, 708204 shares were traded. REE stock price reached its highest trading level at $0.5459 during the session, while it also had its lowest trading level at $0.5000.

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Our analysis of REE’s different ratios will help us gain a deeper understanding of the company. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

On March 25, 2022, Wells Fargo started tracking the stock assigning a Underweight rating and target price of $1.

On January 14, 2022, Cantor Fitzgerald started tracking the stock assigning a Overweight rating and target price of $9.Cantor Fitzgerald initiated its Overweight rating on January 14, 2022, with a $9 target price.

Stock Price History:

Over the past 52 weeks, REE has reached a high of $4.57, while it has fallen to a 52-week low of $0.29. The 50-Day Moving Average of the stock is 0.4805, while the 200-Day Moving Average is calculated to be 1.0781.

Shares Statistics:

REE traded an average of 815.24K shares per day over the past three months and 746.27k shares per day over the past ten days. A total of 327.17M shares are outstanding, with a floating share count of 205.72M. Insiders hold about 17.32% of the company’s shares, while institutions hold 23.40% stake in the company. Shares short for REE as of Oct 13, 2022 were 1.54M with a Short Ratio of 2.04M, compared to 2.25M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 0.64% and a Short% of Float of 0.65%.

Earnings Estimates

The firm’s stock currently is rated by 3 analysts. On average, analysts expect EPS of -$0.1 for the current quarter, with a high estimate of -$0.07 and a low estimate of -$0.12, while EPS last year was -$0.07. The consensus estimate for the next quarter is -$0.1, with high estimates of -$0.07 and low estimates of -$0.13.

Analysts are recommending an EPS of between -$0.32 and -$0.42 for the fiscal current year, implying an average EPS of -$0.37. EPS for the following year is -$0.31, with 3 analysts recommending between -$0.18 and -$0.55.

Revenue Estimates

A total of 3 analysts have provided revenue estimates for REE’s current fiscal year. The highest revenue estimate was $7.01M, while the lowest revenue estimate was $1.9M, resulting in an average revenue estimate of $3.97M. In the same quarter a year ago, actual revenue was $6k, up 66,066.71% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $136.55M in the next fiscal year. The high estimate is $186.26M and the low estimate is $40.2M. The average revenue growth estimate for next year is up 3,339.50% from the average revenue estimate for this year.