United Asset Strategies Inc. Trims Stock Holdings in REE Automotive Ltd. (NASDAQ:REE)

United Asset Strategies Inc. trimmed its holdings in REE Automotive Ltd. (NASDAQ:REE) by 96.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,333 shares of the company’s stock after selling 386,667 shares during the period. United Asset Strategies Inc. owned approximately 0.12% of REE Automotive worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Invesco Ltd. boosted its holdings in REE Automotive by 60.1% in the 1st quarter. Invesco Ltd. now owns 8,157,034 shares of the company’s stock valued at $15,498,000 after purchasing an additional 3,062,887 shares during the period. Sonic GP LLC bought a new position in REE Automotive in the 4th quarter valued at $1,524,000. Millennium Management LLC lifted its holdings in shares of REE Automotive by 664.1% during the 2nd quarter. Millennium Management LLC now owns 3,893,527 shares of the company’s stock worth $4,516,000 after acquiring an additional 3,383,946 shares during the last quarter. Morgan Stanley lifted its holdings in shares of REE Automotive by 127.1% during the 4th quarter. Morgan Stanley now owns 2,073,842 shares of the company’s stock worth $806,000 after acquiring an additional 1,160,726 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of REE Automotive by 55.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,901,900 shares of the company’s stock worth $739,000 after acquiring an additional 677,600 shares during the last quarter. 12.74% of the stock is currently owned by hedge funds and other institutional investors.

REE Automotive Stock Up 11.2 %

NASDAQ REE opened at $4.08 on Thursday. REE Automotive Ltd. has a 52-week low of $2.30 and a 52-week high of $13.77. The company has a quick ratio of 2.64, a current ratio of 2.66 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $6.03 and a 200-day moving average of $5.10.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of REE Automotive in a report on Thursday, March 28th.

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.