Bank of America Corp DE Raises Stock Position in REE Automotive Ltd. (NASDAQ:REE)

Bank of America Corp DE increased its position in shares of REE Automotive Ltd. (NASDAQ:REE) by 40.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 97,513 shares of the company’s stock after acquiring an additional 28,300 shares during the period. Bank of America Corp DE’s holdings in REE Automotive were worth $861,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC increased its position in shares of REE Automotive by 5.8% in 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 during the last quarter. Cruiser Capital Advisors LLC lifted its position in REE Automotive by 21.6% during the fourth quarter. Cruiser Capital Advisors LLC now owns 152,557 shares of the company’s stock valued at $1,347,000 after purchasing an additional 27,057 shares during the last quarter. MYDA Advisors LLC purchased a new position in REE Automotive in the 4th quarter worth approximately $318,000. Finally, Northern Trust Corp bought a new position in shares of REE Automotive in the 4th quarter worth $1,275,000. 12.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on REE. Roth Capital set a $1.00 price objective on shares of REE Automotive in a report on Friday, May 16th. HC Wainwright downgraded REE Automotive from a “buy” rating to a “neutral” rating in a research report on Friday, May 16th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of REE Automotive in a report on Friday, May 16th.

REE Automotive Price Performance

Shares of REE Automotive stock opened at $0.78 on Monday. The stock has a market capitalization of $10.85 million, a price-to-earnings ratio of -0.09 and a beta of 2.76. The company has a fifty day moving average of $2.11 and a 200-day moving average of $5.73. REE Automotive Ltd. has a 52-week low of $0.71 and a 52-week high of $11.72. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.15 and a current ratio of 3.21.

REE Automotive Profile

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.