A correction may be in store for REE Automotive Ltd. (NASDAQ:REE) shares?

As of close of business last night, REE Automotive Ltd.’s stock clocked out at $0.38, down -7.09% from its previous closing price of $0.41. In other words, the price has decreased by -$0.0290 from its previous closing price. On the day, 1272829 shares were traded. REE stock price reached its highest trading level at $0.4379 during the session, while it also had its lowest trading level at $0.3510.

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To gain a deeper understanding of REE’s stock, we examine its different ratios. 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 $2.58, while it has fallen to a 52-week low of $0.29. The 50-Day Moving Average of the stock is 0.4542, while the 200-Day Moving Average is calculated to be 0.8220.

Shares Statistics:

It appears that REE traded 631.34K shares on average per day over the past three months and 563.01k 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 17.30% of the company’s shares, while institutions hold 23.40% stake in the company. Shares short for REE as of Jan 12, 2023 were 1.27M with a Short Ratio of 1.27M, compared to 1.48M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 0.52% and a Short% of Float of 0.53%.

Earnings Estimates

As of right now, 3 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of -$0.11 for the current quarter, with a high estimate of -$0.1 and a low estimate of -$0.13, while EPS last year was -$0.09. The consensus estimate for the next quarter is -$0.08, with high estimates of -$0.06 and low estimates of -$0.12.

Analysts are recommending an EPS of between -$0.36 and -$0.4 for the fiscal current year, implying an average EPS of -$0.38. EPS for the following year is -$0.35, with 3 analysts recommending between -$0.22 and -$0.55.

Revenue Estimates

Based on 4 analysts’ estimates, the company’s revenue will be $31.1M in the next fiscal year. The high estimate is $45M and the low estimate is $16.7M. The average revenue growth estimate for next year is up 3,173.70% from the average revenue estimate for this year.