REE Automotive (NASDAQ:REE) Coverage Initiated by Analysts at Morgan Stanley

Stock analysts at Morgan Stanley initiated coverage on shares of REE Automotive (NASDAQ:REE) in a research report issued on Monday, Price Targets.com reports. The brokerage set an “underweight” rating and a $5.00 price target on the stock. Morgan Stanley’s target price would indicate a potential downside of 9.42% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Cowen began coverage on REE Automotive in a research note on Monday, August 2nd. They set an “outperform” rating and a $15.00 price target for the company. BTIG Research began coverage on REE Automotive in a research note on Wednesday, August 18th. They set a “buy” rating and a $20.00 price target for the company.

REE opened at $5.52 on Monday. REE Automotive has a fifty-two week low of $5.43 and a fifty-two week high of $11.66.

In other REE Automotive news, insider David Weisburd bought 123,908 shares of the stock in a transaction on Wednesday, September 1st. The shares were purchased at an average price of $5.97 per share, with a total value of $739,730.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hans Thomas bought 161,037 shares of the stock in a transaction on Wednesday, September 1st. The stock was acquired at an average cost of $5.81 per share, for a total transaction of $935,624.97. The disclosure for this purchase can be found here. 6.00% of the stock is currently owned by company insiders.

REE Automotive Company Profile

REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK.

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