51,738 Shares in REE Automotive Ltd. (NASDAQ:REE) Purchased by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC bought a new position in shares of REE Automotive Ltd. (NASDAQ:REE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51,738 shares of the company’s stock, valued at approximately $457,000. Fulton Breakefield Broenniman LLC owned 0.49% of REE Automotive at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of REE Automotive in the fourth quarter valued at about $160,000. Virtu Financial LLC purchased a new position in REE Automotive in the third quarter valued at about $138,000. Finally, M&G PLC boosted its holdings in REE Automotive by 69.4% in the third 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. 12.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

REE Automotive Stock Performance

Shares of NASDAQ REE opened at $8.61 on Wednesday. REE Automotive Ltd. has a 12-month low of $2.91 and a 12-month high of $11.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.21 and a quick ratio of 3.15. The stock’s 50 day simple moving average is $8.77 and its 200 day simple moving average is $6.60.

REE Automotive (NASDAQ:REE) last posted its 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). Research analysts expect that REE Automotive Ltd. will post -5.06 earnings per share for the current year.

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.