REE Automotive Ltd. (REE) looking to reclaim success with recent performance

REE Automotive Ltd. (NASDAQ: REE) stock jumped 5.84% on Monday to $0.53 against a previous-day closing price of $0.50. With 0.71 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.82 million shares. During the session, the Recreational Vehicles company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.5459 whereas the lowest price it dropped to was $0.5000. The 52-week range on REE shows that it touched its highest point at $4.57 and its lowest point at $0.29 during that stretch. It currently has a 1-year price target of $2.50.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of REE was up-trending over the past week, with a rise of 17.22%, but this was up by 44.52% over a month. Three-month performance dropped to -13.47% while six-month performance fell -53.32%. The stock lost -88.17% in the past year, while it has gained 35.71% so far this year. A look at the trailing 12-month EPS for REE yields -1.90 with Next year EPS estimates of -0.35. For the next quarter, that number is -0.11. This implies an EPS growth rate of -628.30% for this year and 7.90% for next year.

Float and Shares Shorts:

At present, 327.17 million REE shares are outstanding with a float of 205.72 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.54 million, which was 0.64% higher than short shares on Sep 14, 2022. In addition to Mr. Daniel Barel as the firm’s Co-Founder, CEO & Director, Mr. Ahishay Sardes serves as its Co-Founder, CTO & Director.

Institutional Ownership:

Through their ownership of 21.95% of REE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 29.50% of REE, in contrast to 1.81% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in REE with 7.92% of the stake, Excellence Investments Ltd. holds 19,236,917 shares worth 19,236,917. A second-largest stockholder of REE, M&G Investment Management Ltd., holds 15,487,262 shares, controlling over 6.38% of the firm’s shares. Clal Pension & Provident Funds Lt is the third largest shareholder in REE, holding 13,758,023 shares or 5.67% stake.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for REE since 5 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With REE analysts setting a high price target of $6.00 and a low target of $0.50, the average target price over the next 12 months is $2.50. Based on these targets, REE could surge 1032.08% to reach the target high and fall by -5.66% to reach the target low. Reaching the average price target will result in a growth of 371.7% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. REE will report FY 2022 earnings on 02/29/2024. Analysts have provided yearly estimates in a range of -$0.31 being high and -$0.46 being low. For REE, this leads to a yearly average estimate of -$0.40. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. REE Automotive Ltd. surprised analysts by $0.01 when it reported -$0.11 EPS against a consensus estimate of -$0.12. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.14. The average estimate for the next quarter is thus -$0.12.

Summary of Insider Activity:

Insiders traded REE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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