REE Automotive Ltd. (NASDAQ:REE) Sees Large Decrease in Short Interest

REE Automotive Ltd. (NASDAQ:REE) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 400,462 shares, a decline of 21.2% from the November 30th total of 508,306 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 104,817 shares, the short-interest ratio is currently 3.8 days. Based on an average trading volume of 104,817 shares, the short-interest ratio is currently 3.8 days. Approximately 1.8% of the shares of the company are sold short.

REE Automotive Stock Performance

NASDAQ:REE traded down $0.07 during mid-day trading on Wednesday, reaching $0.73. The stock had a trading volume of 106,022 shares, compared to its average volume of 241,694. The business has a 50 day simple moving average of $0.85 and a 200 day simple moving average of $0.78. REE Automotive has a twelve month low of $0.53 and a twelve month high of $10.24. The firm has a market capitalization of $16.35 million, a price-to-earnings ratio of -0.10 and a beta of 2.73.

Institutional Investors Weigh In On REE Automotive

A hedge fund recently bought a new stake in REE Automotive stock. Alyeska Investment Group L.P. acquired a new position in shares of REE Automotive Ltd. (NASDAQ:REE) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,159,750 shares of the company’s stock, valued at approximately $3,085,000. Alyeska Investment Group L.P. owned about 8.34% of REE Automotive as of its most recent filing with the Securities & Exchange Commission. 12.74% of the stock is owned by institutional investors and hedge funds.

About REE Automotive

REE Automotive Ltd. (NASDAQ:REE) is an Israel-based technology company specializing in the design and engineering of fully modular electric vehicle (EV) platforms. Founded in 2011 as a research initiative at the Technion – Israel Institute of Technology, REE Automotive has developed its core offering—the REEcorner—which integrates steering, braking, suspension and powertrain components into a compact unit housed within the wheel arch. This architecture enables manufacturers and fleet operators to pair a flat “skateboard” chassis with a variety of bespoke vehicle bodies, streamlining development cycles and reducing production complexity.

At the heart of REE’s product portfolio is the REEboard platform, a highly scalable EV architecture designed for commercial applications such as last-mile delivery vans, urban shuttles and light-duty trucks.