REE Automotive (NASDAQ:REE) Trading 8.3% Higher – Should You Buy?

REE Automotive Ltd. (NASDAQ:REE) shares traded up 8.3% during trading on Wednesday . The company traded as high as $0.5990 and last traded at $0.5750. 52,891 shares changed hands during trading, a decline of 25% from the average session volume of 70,336 shares. The stock had previously closed at $0.5310.

Wall Street Analyst Weigh In

Separately, Weiss Ratings started coverage on REE Automotive in a research report on Monday, January 5th. They set a “sell (d-)” rating on the stock. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, REE Automotive presently has an average rating of “Hold” and an average target price of $8.17.

REE Automotive Price Performance

The firm has a market cap of $14.12 million, a P/E ratio of -0.09 and a beta of 2.72. The stock’s 50 day moving average is $0.66 and its two-hundred day moving average is $0.77.

Institutional Trading of REE Automotive

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new position in shares of REE Automotive during the first quarter valued at $48,000. Potomac Capital Management Inc. acquired a new stake in shares of REE Automotive during the 4th quarter worth about $300,000. Finally, Millennium Management LLC lifted its holdings in REE Automotive by 9.0% during the 4th quarter. Millennium Management LLC now owns 505,662 shares of the company’s stock valued at $371,000 after purchasing an additional 41,763 shares during the last quarter. Institutional investors and hedge funds own 12.74% of the company’s stock.

REE Automotive Company Profile

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.