Bank of America Corp DE Has $861,000 Position in REE Automotive Ltd. (NASDAQ:REE)

Bank of America Corp DE raised its holdings in shares of REE Automotive Ltd. (NASDAQ:REE) by 40.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,513 shares of the company’s stock after purchasing an additional 28,300 shares during the quarter. Bank of America Corp DE owned 0.70% of REE Automotive worth $861,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp purchased a new position in REE Automotive in the fourth quarter worth $1,275,000. MYDA Advisors LLC bought a new stake in shares of REE Automotive during the 4th quarter worth $318,000. Renaissance Technologies LLC boosted its holdings in shares of REE Automotive by 5.8% in the 4th quarter. Renaissance Technologies LLC now owns 69,577 shares of the company’s stock worth $614,000 after buying an additional 3,800 shares during the last quarter. Finally, Cruiser Capital Advisors LLC boosted its holdings in shares of REE Automotive by 21.6% in the 4th quarter. Cruiser Capital Advisors LLC now owns 152,557 shares of the company’s stock worth $1,347,000 after buying an additional 27,057 shares during the last quarter. Institutional investors and hedge funds own 12.74% of the company’s stock.

REE Automotive Stock Up 4.6%

REE opened at $0.78 on Monday. REE Automotive Ltd. has a 12 month low of $0.71 and a 12 month high of $11.72. The company has a market cap of $10.85 million, a PE ratio of -0.09 and a beta of 2.76. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $2.11 and a 200 day moving average of $5.73.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on REE shares. HC Wainwright lowered REE Automotive from a “buy” rating to a “neutral” rating in a report on Friday, May 16th. Roth Capital set a $1.00 price target on REE Automotive in a research note on Friday, May 16th. Finally, Alliance Global Partners restated a “buy” rating on shares of REE Automotive in a research note on Friday, May 16th.

About REE Automotive

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.