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Beem stock price prediction1/3/2023 ![]() ![]() ![]() Overall, 4 analysts have weighed in on REE recently, and they have all given the stock positive ratings – making the Strong Buy consensus rating unanimous. (To watch Osborne’s track record, click here) Buy), and his $7.50 price target indicates room for a robust 552% upside in the coming year. In-line with his bullish stance, Osborne rates REE an Outperform (i.e. In the near term we would expect investors to focus on Proxima demand following the testing of REE's fleet and feedback from customer evaluations once P7-B deliveries begin in Europe.” REE's differentiation lies within its focus on niche commercial EV segments… REE is still on path to reach its YE22 target capacity of 10,000 vehicles within its Coventry, UK facility, while simultaneously building out its new integration center in Austin, Texas. The buy boosted Millennium’s holding by more than 660%, and the firm’s stake is worth $4.44 million.Ĭowen analyst Jeff Osborne is also impressed with REE, and takes a bullish line when he writes: “We remain positive on REE as the company has been able to stay on track with guidance and reach its set milestones while managing cash burn. His firm bought 3,383,946 shares of REE in the last quarter, and now holds over 3.893 million shares in the company. This makes for an interesting company, with a clear path forward – and Englander would agree. ![]() REE has, as of the end of 2Q22, $206.8 million in cash and liquid assets on hand. That last point is important, as REE is still pre-revenue, and dependent on available liquidity to fund operations. Both commercial EVs are described as ‘on track and on budget.’ So far, REE has developed its platform into two marketable vehicles the P7-B box truck, designed for mid- and last-mile delivery fleets, and the Proxima walk-in step-van, optimized for urban last-mile use.īoth the P7-B and the Proxima models are undergoing customer evaluations, and the company reports that progress is ongoing, with positive feedback from customers. The chassis is essentially flat platform with an electric-driven wheel at each corner it can readily be scaled up or down to accommodate passenger vehicle or delivery truck models, and can accept a wide range of body designs and styles. REE’s drive train and chassis design also allow for another advantage: easy customization. The result is an EV design that can carry more batteries, allowing for more cargo or passengers over longer ranges. By putting separate motors on each wheel, the company has created a chassis that delivers more power and higher carrying capacity on a smaller footprint without sacrificing performance. REE is taking advantage of new, high-tech electric motors and drive tech to change the way that the vehicle chassis and drive train interact. We can take a closer look at them, and at the analyst commentary, to find out what else may have brought them to Englander’s attention.įirst up is REE Automotive, a company taking an innovative approach to EV design – and automobile design generally. According to TipRanks’ database, these are stocks with Buy ratings, and offering investors triple-digit upside potentials. So let’s take a look at Englander’s EV moves. Today, Millennium holds a total of $56 billion in assets under management. Englander got his start in the stock market more than 45 years ago, and in 1989 he founded his own hedge fund, Millennium Management, with $35 million in seed money. Not wanting to miss out on a compelling opportunity, billionaire investing legend Israel "Izzy" Englander has pulled the trigger on three small-cap EV stocks, taking multi-million dollar stakes while the industry is still young. The market has found support from political policy, but more importantly, from improvements in battery technology and manufacture that are slowly making EVs more competitive on price. This gives EVs a market share greater than 8%, triple where it stood in 2019, before the COVID pandemic. Electric vehicles (EVs) have become the car sector’s fastest growing segment, more than doubling last year to reach 6.8 million vehicles globally. ![]()
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