The stock of REE Automotive Ltd. (NASDAQ:REE) increased by $0.01 on Wednesday to $0.21, up 4.40 percent. The last five days have seen an average of 832,851 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$0.1886. The average number of shares traded over the last 20 days was 1,062,718, while the average volume over the last 50 days totaled 618,407.
REE stock dropped -38.38% since last month. On 08/21/23, the company’s shares reached a one-month low of $0.1642. The stock touched a high of $1.25 on 02/02/23, after rallying from a low of $0.16 in 52 weeks. The price of REE stock has declined by -46.26% or -$0.1886 this year, reaching a new high 8 times. Still, the stock price is down -83.29% from the 52-week high.
Financial Health
For the three months ended June 29, REE Automotive Ltd.’s current ratio was 8.30. Based on annual data, it had gross profit of -$0.55 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. REE’s return on assets (ROA) during the last 12 months has been -43.50%. In the meantime, the return on equity (ROE) for the last 12 months was -51.70%.
Earnings Surprise
According to REE Automotive Ltd.’s quarterly financial report for the quarter that ended June 29. It was predicted that REE Automotive Ltd.’s quarterly earnings would be -$0.07, but it ended up being -$0.07. EBITDA was -$28.33 million for the quarter. At the end of REE Automotive Ltd.’s most recent quarter ended June 29, its liabilities totaled 36.16 million, while its total debt was $20.2 million.
Technical Picture
Here’s a quick look at REE Automotive Ltd.’s (REE) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 34.87%, suggesting the stock is Neutral, with a 87.09% historical volatility rate.
The stochastic %K and %D were 35.29% and 30.75% respectively, while the average true range (ATR) was 0.0242. Based on the 14-day stochastic reading of 36.01%, the RSI (14) reading is 30.63%. On the 9-day MACD Oscillator, the stock is at 0.0090.
Analyst Ratings
REE Automotive Ltd. (NASDAQ: REE) was downgraded by BTIG Research to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned REE Automotive Ltd. (REE) an Hold rating. REE is a stock that is recommended for selling by 1 brokerage firm, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is REE’s price target for the next 12 months?
The current consensus forecast for the stock is between $0.15 and $1.50, with a median target price of $1.00. In analyzing these forecasts, the average price target given by analysts for REE Automotive Ltd. (REE) is $0.91.
