REE Automotive Ltd. (NASDAQ:REE) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its stake in REE Automotive Ltd. (NASDAQ:REE) by 57.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,495 shares of the company’s stock after purchasing an additional 57,526 shares during the period. Millennium Management LLC’s holdings in REE Automotive were worth $1,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cruiser Capital Advisors LLC increased its holdings in shares of REE Automotive by 21.6% during the 4th quarter. Cruiser Capital Advisors LLC now owns 152,557 shares of the company’s stock worth $1,347,000 after buying an additional 27,057 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of REE Automotive by 5.8% during the fourth quarter. Renaissance Technologies LLC now owns 69,577 shares of the company’s stock worth $614,000 after purchasing an additional 3,800 shares in the last quarter. MYDA Advisors LLC acquired a new position in shares of REE Automotive in the fourth quarter worth about $318,000. Northern Trust Corp acquired a new stake in REE Automotive in the fourth quarter valued at $1,275,000. Finally, Bank of America Corp DE raised its position in shares of REE Automotive by 40.9% during the 4th quarter. Bank of America Corp DE now owns 97,513 shares of the company’s stock valued at $861,000 after acquiring an additional 28,300 shares in the last quarter. Institutional investors and hedge funds own 12.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Alliance Global Partners reissued a “buy” rating on shares of REE Automotive in a report on Friday, May 16th. Roth Capital set a $1.00 target price on REE Automotive in a research note on Friday, May 16th. Finally, HC Wainwright lowered shares of REE Automotive from a “buy” rating to a “neutral” rating in a research report on Friday, May 16th.

REE Automotive Stock Performance

REE opened at $0.81 on Wednesday. The stock’s 50 day simple moving average is $2.22 and its 200-day simple moving average is $5.87. 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 stock has a market cap of $11.22 million, a PE ratio of -0.09 and a beta of 3.15. REE Automotive Ltd. has a 1 year low of $0.71 and a 1 year high of $11.72.

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.