REE Automotive (NASDAQ:REE) Releases Q4 2024 Earnings Guidance

REE Automotive (NASDAQ:REE) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -1.510–1.510 for the period, compared to the consensus estimate of -1.080. The company issued revenue guidance of -. REE Automotive also updated its FY 2024 guidance to -7.010–7.010 EPS.

REE Automotive Price Performance

Shares of REE Automotive stock traded down $0.12 during trading on Monday, hitting $2.77. 20,879 shares of the stock traded hands, compared to its average volume of 131,046. The firm’s fifty day moving average is $4.39 and its 200-day moving average is $6.93. The stock has a market cap of $38.52 million, a price-to-earnings ratio of -0.30 and a beta of 3.18. REE Automotive has a 52 week low of $2.30 and a 52 week high of $11.72. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.17.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on REE. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of REE Automotive in a research report on Wednesday, March 19th. Alliance Global Partners started coverage on shares of REE Automotive in a research note on Friday, April 11th. They issued a “buy” rating and a $8.50 target price on the stock.

REE Automotive Company Profile

REE Automotive Ltd. operates as an automotive technology company in France, the United Kingdom, the United States, and internationally. The company offers REEcorner, a compact module that integrates critical vehicle drive components comprising as steering, braking, suspension, powertrain, and control between the chassis and the wheel; and REEplatform that allows for the addition of a modular and customizable top hat/cabin design based on customer specifications, without requiring modification to the platform.