Clal Insurance Enterprises Holdings Ltd trimmed its holdings in REE Automotive Ltd. (NASDAQ:REE - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 387,500 shares of the company's stock after selling 71,102 shares during the period. Clal Insurance Enterprises Holdings Ltd owned 2.79% of REE Automotive worth $3,422,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the business. M&G PLC raised its stake in REE Automotive by 69.4% in the 3rd quarter. M&G PLC now owns 2,960,017 shares of the company's stock valued at $20,720,000 after purchasing an additional 1,213,003 shares during the last quarter. Fulton Breakefield Broenniman LLC purchased a new position in shares of REE Automotive during the fourth quarter valued at approximately $457,000. Virtu Financial LLC acquired a new stake in REE Automotive during the third quarter worth approximately $138,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in REE Automotive during the fourth quarter worth approximately $160,000. 12.74% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reissued a "buy" rating and set a $15.00 price target on shares of REE Automotive in a research note on Monday, December 23rd.
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REE Automotive Trading Up 0.9 %
Shares of NASDAQ REE traded up $0.06 on Wednesday, reaching $6.50. 15,816 shares of the company traded hands, compared to its average volume of 35,522. The stock has a market capitalization of $90.40 million, a PE ratio of -0.71 and a beta of 2.92. REE Automotive Ltd. has a fifty-two week low of $2.91 and a fifty-two week high of $11.72. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $8.39 and a 200 day moving average of $7.31.
REE Automotive (NASDAQ:REE - Get Free Report) last issued its quarterly earnings results on Tuesday, December 17th. The company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.27). On average, equities research analysts forecast that REE Automotive Ltd. will post -5.06 earnings per share for the current fiscal year.
REE Automotive Company Profile
(
Free Report)
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.
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