REE Automotive Ltd. (NASDAQ:REE) Short Interest Update

REE Automotive Ltd. (NASDAQ:REE) was the recipient of a large decrease in short interest in 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. Currently, 1.4% of the company’s shares are sold short. Based on an average daily volume of 144,178 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily volume of 144,178 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings initiated coverage on shares of REE Automotive in a research report on Monday, January 5th. They set a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, REE Automotive currently has an average rating of “Hold” and a consensus target price of $8.17.

REE Automotive Stock Down 2.3%

Shares of REE traded down $0.02 during mid-day trading on Friday, reaching $0.74. 186,157 shares of the stock traded hands, compared to its average volume of 121,109. The stock has a fifty day simple moving average of $0.77 and a 200 day simple moving average of $0.79. REE Automotive has a 12-month low of $0.53 and a 12-month high of $9.92. The firm has a market cap of $16.45 million, a price-to-earnings ratio of -0.10 and a beta of 2.74.

Institutional Trading of REE Automotive

A hedge fund recently bought a new stake in REE Automotive stock. Goldman Sachs Group Inc. purchased a new stake in REE Automotive Ltd. (NASDAQ:REE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,232 shares of the company’s stock, valued at approximately $48,000. Goldman Sachs Group Inc. owned about 0.13% of REE Automotive as of its most recent filing with the Securities and Exchange Commission (SEC). 12.74% of the stock is currently owned by hedge funds and other institutional investors.

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.