REE Automotive (NASDAQ:REE) Releases Earnings Results, Misses Estimates By $0.27 EPS

REE Automotive (NASDAQ:REE) posted its quarterly earnings results on Tuesday. The company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.27), Zacks reports. REE Automotive had a negative net margin of 6,265.21% and a negative return on equity of 119.91%.

REE Automotive Stock Performance

Shares of NASDAQ REE opened at $10.98 on Tuesday. REE Automotive has a 1 year low of $2.91 and a 1 year high of $11.72. The stock has a fifty day moving average price of $7.80 and a two-hundred day moving average price of $5.52. The firm has a market cap of $115.40 million, a P/E ratio of -1.23 and a beta of 3.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.15 and a current ratio of 2.21.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of REE Automotive in a research report on Friday, September 27th.

About REE Automotive

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.