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

REE Automotive (NASDAQ:REE) updated its fourth quarter 2024 earnings guidance on Monday. 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 Trading Down 4.8 %

Shares of REE Automotive stock opened at $2.75 on Tuesday. The business has a fifty day simple moving average of $4.28 and a 200-day simple moving average of $6.90. REE Automotive has a fifty-two week low of $2.31 and a fifty-two week high of $11.72. The firm has a market cap of $38.24 million, a price-to-earnings ratio of -0.30 and a beta of 3.18. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.17.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Alliance Global Partners began coverage on shares of REE Automotive in a research report on Friday, April 11th. They set a “buy” rating and a $8.50 price objective for the company. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of REE Automotive in a report on Wednesday, March 19th.

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.