REE Automotive Ltd. (NASDAQ:REE) Stock Holdings Lessened by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd trimmed its stake in REE Automotive Ltd. (NASDAQ:REE) by 15.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387,500 shares of the company’s stock after selling 71,102 shares during the quarter. 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 (SEC).

A number of other hedge funds have also made changes to their positions in REE. M&G PLC lifted its position in shares of REE Automotive by 69.4% in the third quarter. M&G PLC now owns 2,960,017 shares of the company’s stock worth $20,720,000 after purchasing an additional 1,213,003 shares in the last quarter. Fulton Breakefield Broenniman LLC acquired a new position in REE Automotive in the fourth quarter worth approximately $457,000. Virtu Financial LLC acquired a new position in REE Automotive in the third quarter worth approximately $138,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in REE Automotive in the fourth quarter worth approximately $160,000. 12.74% of the stock is owned by hedge funds and other institutional investors.

REE Automotive Trading Up 0.6 %

NASDAQ:REE opened at $7.07 on Friday. The stock’s 50 day moving average price is $8.47 and its 200 day moving average price is $7.24. REE Automotive Ltd. has a 52 week low of $2.91 and a 52 week high of $11.72. The company has a market capitalization of $98.32 million, a P/E ratio of -0.78 and a beta of 2.92. 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 (NASDAQ:REE) last announced 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, research analysts forecast that REE Automotive Ltd. will post -5.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of REE Automotive in a report on Monday, December 23rd.

REE Automotive Company 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.