18,232 Shares in REE Automotive Ltd. $REE Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. bought a new position in shares of REE Automotive Ltd. (NASDAQ:REE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,232 shares of the company’s stock, valued at approximately $48,000. Goldman Sachs Group Inc. owned about 0.13% of REE Automotive at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fulton Breakefield Broenniman LLC grew its position in shares of REE Automotive by 41.4% during the first quarter. Fulton Breakefield Broenniman LLC now owns 73,162 shares of the company’s stock worth $195,000 after acquiring an additional 21,424 shares during the last quarter. Bank of America Corp DE grew its position in REE Automotive by 40.9% during the 4th quarter. Bank of America Corp DE now owns 97,513 shares of the company’s stock worth $861,000 after purchasing an additional 28,300 shares during the last quarter. XTX Topco Ltd purchased a new position in REE Automotive during the 1st quarter worth $79,000. Millennium Management LLC grew its position in REE Automotive by 57.5% during the 4th quarter. Millennium Management LLC now owns 157,495 shares of the company’s stock worth $1,391,000 after purchasing an additional 57,526 shares during the last quarter. Finally, Heights Capital Management Inc. purchased a new position in shares of REE Automotive during the first quarter worth about $2,394,000. 12.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised REE Automotive from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.17.

REE Automotive Price Performance

REE Automotive stock opened at $0.73 on Wednesday. REE Automotive Ltd. has a 52 week low of $0.53 and a 52 week high of $11.72. The firm has a market capitalization of $16.23 million, a PE ratio of -0.10 and a beta of 2.68. The company has a quick ratio of 2.20, a current ratio of 2.28 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $0.72 and its 200 day simple moving average is $1.44.

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.