Short Interest in REE Automotive Ltd. (NASDAQ:REE) Decreases By 23.3%
by Tristan Rich · The Markets DailyREE Automotive Ltd. (NASDAQ:REE – Get Free Report) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 307,051 shares, a decrease of 23.3% from the December 15th total of 400,462 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 144,178 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily trading volume, of 144,178 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.4% of the company’s stock are short sold.
REE Automotive Trading Down 2.3%
REE Automotive stock traded down $0.02 during mid-day trading on Friday, reaching $0.74. The company’s stock had a trading volume of 186,157 shares, compared to its average volume of 121,109. REE Automotive has a twelve month low of $0.53 and a twelve month high of $9.92. The business has a 50 day moving average price of $0.77 and a 200-day moving average price of $0.79. The firm has a market cap of $16.45 million, a price-to-earnings ratio of -0.10 and a beta of 2.74.
Wall Street Analyst Weigh In
Separately, Weiss Ratings initiated coverage on shares of REE Automotive in a report on Monday, January 5th. They issued a “sell (d-)” rating on the stock. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.17.
Check Out Our Latest Stock Analysis on REE Automotive
Institutional Investors Weigh In On REE Automotive
An institutional investor recently bought a new position in REE Automotive stock. Goldman Sachs Group Inc. bought a new stake in REE Automotive Ltd. (NASDAQ:REE – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,232 shares of the company’s stock, valued at approximately $48,000. Goldman Sachs Group Inc. owned 0.13% of REE Automotive as of its most recent SEC filing. Institutional investors own 12.74% of the company’s stock.
About REE Automotive
REE Automotive Ltd. (NASDAQ:REE) is an Israel-based technology company specializing in the design and engineering of fully modular electric vehicle (EV) platforms. Founded in 2011 as a research initiative at the Technion – Israel Institute of Technology, REE Automotive has developed its core offering—the REEcorner—which integrates steering, braking, suspension and powertrain components into a compact unit housed within the wheel arch. This architecture enables manufacturers and fleet operators to pair a flat “skateboard” chassis with a variety of bespoke vehicle bodies, streamlining development cycles and reducing production complexity.
At the heart of REE’s product portfolio is the REEboard platform, a highly scalable EV architecture designed for commercial applications such as last-mile delivery vans, urban shuttles and light-duty trucks.