REE Automotive Ltd. (NASDAQ:REE) finished Wednesday with a subtraction of -$0.02 to close at $0.26, a downside of -9.47 percent. An average of 781,480 shares of common stock have been traded in the last five days. There was a fall of -$0.0790 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 493,940 shares traded, while the 50-day average volume stands at 367,126.
REE stock has decreased by -34.68% in the last month. The company shares reached their 1-month lowest point of $0.2503 on 08/09/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $0.27 and a high of $1.56 in 52 weeks. It has reached a new high 8 times so far this year and lost -33.62% or -$0.1307 in price. In spite of this, the price is down -83.46% from the 52-week high.
Valuation Metrics
REE Automotive Ltd. (REE) stock’s beta is 1.66. Other valuation ratios to consider include the price-to-book (PB) ratio at 0.44.
Financial Health
Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending March 30. Its gross profit as reported stood at -$0.55 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, REE Automotive Ltd.’s return on assets was -43.50%.
Earnings Surprise
For the three-month period that ended March 30, REE Automotive Ltd. had $96.86 million in cash. The company posted a net income of -$107.42 million in the quarter, while revenues were shrunk -370.42%. The analyst consensus anticipated REE Automotive Ltd.’s latest quarter earnings to come in at -$0.07 per share, but it turned out to be -$0.08, a -14.30% surprise. For the quarter, EBITDA amounted to -$28.33 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at REE Automotive Ltd. (REE) price momentum. RSI 9-day as of the close on 09 August was 8.84%, suggesting the stock is oversold, with historical volatility in this time frame at 49.16%.
As of today, REE’s price is $0.2945 -23.44% or -$0.0790 from its 5-day moving average. REE is currently trading -34.78% lower than its 20-day SMA and -32.11% lower than its 100-day SMA. However, the stock’s current price level is -32.11% below the SMA50 and -57.68% below the SMA200.
The stochastic %K and %D were 6.82% and 6.67%, respectively, and the average true range (ATR) was 0.0306. With the 14-day stochastic at 6.30% and the average true range at 0.0284, the RSI (14) stands at 16.40%. The stock has reached -0.0354 on the 9-day MACD Oscillator while the 14-day reading was at -0.0442.
Analyst Ratings
BTIG Research downgraded REE Automotive Ltd. (NASDAQ: REE) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for REE Automotive Ltd. (REE) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell REE, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is REE’s price target for the next 12 months?
Analysts predict a range of price targets between $0.25 and $1.50, with a median target of $1.00. Taking a look at these predictions, the average price target given by analysts for REE Automotive Ltd. (REE) stock is $0.94.
