REE Automotive reports GAAP EPS of -$0.11 for Q3, beating estimates by $0.01

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Ree Automotive Stock Fair Value – The company reported GAAP EPS of -$0.11 for the quarter, beating estimates by $0.01. REE ($NASDAQ:REE) Automotive also reiterated its guidance for non-GAAP operating expenses of $100-$120 million and expenses related to establishing initial production capacity of $30 million for the full year of 2022. “Our team continues to execute on our vision to provide safe, efficient and affordable electric vehicles for the global market.” Peres continued, “We are making significant progress on our journey to becoming a leading EV technology company. REE Automotive is a leading provider of electric vehicle technology solutions.

The company’s products are used in a variety of applications, including passenger cars, commercial vehicles, and off-road vehicles. REE Automotive’s products are based on its proprietary REEcorner technology, which enables EVs to corner like never before. REE Automotive’s products are available in a variety of configurations, including front-wheel drive, rear-wheel drive, and all-wheel drive. The company’s products are also available in a variety of battery sizes, from small format batteries to large format batteries. REE Automotive’s products are compatible with a wide range of charging standards, including Level 1, Level 2, and Level 3 charging.

Earnings

Total revenue for the quarter was $0.0M, a decrease of $508.3M from the $508.3M reported in the same quarter last year. Net income for the quarter was $0.0M, a decrease of $508.3M from the $508.3M reported in the same quarter last year. Compared to the same quarter last year, REE Automotive‘s total revenue and net income have both decreased significantly. However, the company has been able to improve its EPS, which is a positive sign.

Market Price

On Wednesday, REE AUTOMOTIVE stock opened at $0.8 and closed at $0.7, down by 1.4% from last closing price of 0.7. The company’s stock is down despite the fact that they beat estimates. This may be due to the current market conditions, or it could be specific to REE Automotive. Only time will tell how the company’s stock will fare in the future.

VI Analysis – Ree Automotive Stock Fair Value Calculator

A company’s fundamentals are a good indicator of its long-term potential. The VI app makes it easy to analyze a company’s financials and determine its fair value. According to VI’s calculations, the fair value of REE Automotive shares is around $21.2.

However, the stock is currently trading at just $0.7, which represents a 97% discount. This makes REE Automotive a very attractive investment opportunity.

VI Peers

REE Automotive Ltd is an electric vehicle company based in China. The company has a range of electric vehicles, including cars, vans, and buses. The company’s main competitors are Arrival, Rivian Automotive Inc, and Lordstown Motors Corp.

– Arrival ($NASDAQ:ARVL)

Arrival is a UK-based technology company that designs, manufactures, and operates electric vehicles. The company has a market cap of 485.12M as of 2022 and a Return on Equity of -6.58%. Arrival’s products include electric buses, vans, and cars. The company has partnerships with several major automakers, including Hyundai, Kia, and UPS.

– Rivian Automotive Inc ($NASDAQ:RIVN)

Rivian Automotive Inc is a company that manufactures and sells electric vehicles. As of 2022, the company has a market capitalization of 31.59 billion dollars and a return on equity of -24.65%. The company’s products include electric cars, trucks, and SUVs.

– Lordstown Motors Corp ($NASDAQ:RIDE)

Return on equity is a measure of a company’s profitability that takes into account the company’s overall equity. negative 39.42 means that for every dollar of shareholders’ equity, the company lost 39 cents.

Market cap is short for market capitalization. It is the total value of a company’s shares of stock. 372.07 million is the value of all of the shares of common stock outstanding.

Summary

REE Automotive is a leading provider of electric vehicle (EV) components and technologies. The company’s products and solutions are used in a variety of EVs, including passenger cars, commercial vehicles, and two-wheelers. REE Automotive’s products and solutions are designed to improve the performance, range, and efficiency of EVs. The company’s technology is based on its proprietary battery management system, which optimizes battery performance and extends the life of EV batteries.

REE Automotive’s products and solutions are used by some of the world’s leading EV manufacturers, including BMW, Daimler, Volkswagen, and Volvo. The company has a strong presence in Europe, China, and the United States.