REE Automotive (NASDAQ:REE) Shares Down 3.6% – Time to Sell?

REE Automotive Ltd. (NASDAQ:REE)’s stock price traded down 3.6% on Monday . The company traded as low as $0.2211 and last traded at $0.2217. 311,004 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 235,416 shares. The stock had previously closed at $0.23.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of REE Automotive from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

REE Automotive Stock Performance

The business has a 50-day moving average of $0.45 and a two-hundred day moving average of $0.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $6.99 million, a P/E ratio of -0.04 and a beta of 2.33.

REE Automotive (NASDAQ:REE) last announced its earnings results on Saturday, May 16th. The company reported ($0.46) EPS for the quarter. The business had revenue of $0.56 million for the quarter.

Institutional Investors Weigh In On REE Automotive

Several institutional investors have recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC grew its holdings in REE Automotive by 242.4% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 52,900 shares of the company’s stock worth $32,000 after purchasing an additional 37,450 shares during the last quarter. Millennium Management LLC increased its position in shares of REE Automotive by 9.0% during the fourth quarter. Millennium Management LLC now owns 505,662 shares of the company’s stock worth $371,000 after purchasing an additional 41,763 shares in the last quarter. Potomac Capital Management Inc. purchased a new stake in shares of REE Automotive during the 4th quarter valued at $300,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of REE Automotive in the 1st quarter worth $48,000. 12.74% of the stock is currently owned by institutional investors and hedge funds.

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.